Odaily Planet Daily reports that, according to TRM Labs, a blockchain compliance analytics firm, after the full implementation of the European Union’s Markets in Crypto-Assets Regulation (MiCA), only 281 out of the original 1,343 crypto asset service providers applied for and received operational authorization—approximately one-fifth. None of the over 1,800 crypto organizations previously registered in Poland have obtained MiCA authorization; only 8 out of more than 400 in Lithuania were approved. Germany’s financial regulator BaFin has authorized 55 firms, while regulators in France and the Netherlands each granted licenses to 29 firms. TRM Labs’ risk ratings show that among unlicensed firms that exited the market, 12% were rated as high or severe risk, compared to just 2% among licensed firms. The unlicensed firms sent $5 billion to sanctioned counterparties, while licensed firms sent $1.7 billion. The report notes that unlicensed firms had approximately four times the exposure to sanctions risk compared to licensed firms. MiCA has also led to restricted access to stablecoins in Europe, prompting the EU to plan a comprehensive revision of the framework to address stablecoin issues and bring tokenized assets under regulatory oversight. (Bitcoin.com News)
Post-MiCA, only 20% of European crypto providers are authorized, with 281 approved.
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Summary
A report by TRM Labs reveals that under the MiCA (EU Markets in Crypto-Assets Regulation) framework, only 281 out of 1,343 European crypto providers obtained authorization—approximately 20%. Lithuania approved just 8 out of over 400 firms, while Poland recorded zero approvals. Unauthorized firms face a fourfold higher risk of sanctions exposure, with $5 billion sent to sanctioned entities compared to $1.7 billion from licensed ones. TRM also linked unauthorized firms to elevated CFT (Countering the Financing of Terrorism) risks. The EU is now considering revisions to MiCA, particularly regarding stablecoins and tokenized assets.
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