On July 1, MiCA's final transition period ended — replacing 30+ national crypto regimes with a single EU-wide rulebook. Firms now need authorization to serve any market in the bloc.

244 CASPs are licensed as of late June, handling 83% of European trading volume. Germany leads with 57 approvals, France and the Netherlands 26 each; Greece, Hungary, Poland, Portugal and Romania have none yet.

Kraken, Coinbase, OKX and Crypto.com gain a single passport across the 30-country EEA. Binance — which pulled its Greek application last week — has no MiCA license, and unlicensed firms must wind down or restrict EU services.

Multi-jurisdiction stablecoin issuance stays ambiguous, a lingering disadvantage for EU-based issuers.