MiCA Enters Full Effect: 57 Licenses and a New Order in EU Crypto

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In accordance with Jinse, by the end of December 2025, the EU's Markets in Crypto-Assets (MiCA) framework will have been in full effect for one year. The past year has marked the beginning of direct competition between crypto-native institutions and traditional financial entities under a unified regulatory regime. MiCA introduced a comprehensive set of rules, including a single licensing system (CASP), asset protection requirements, and passporting rights across all 27 EU member states. As of now, 57 CASP licenses have been issued, with Germany and the Netherlands as the top jurisdictions. The framework has significantly reduced regulatory fragmentation and compliance costs, reshaping the industry landscape. MiCA's implementation has effectively ended geographic arbitrage and set a new standard for global crypto regulation.

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