More than 50 institutions, including major stablecoin issuers and crypto service providers, have received regulatory approval under the European Union’s Markets in Crypto-Assets (MiCA) framework within the first six months of the regulation.

On July 7, Circle executive Patrick Hansen shared new data from the European Securities and Markets Authority (ESMA), revealing that 53 entities have secured MiCA licenses just six months after the framework came into force.

The licenses enable these firms to “passport” their services across 30 European Economic Area (EEA) countries without needing additional approval in each jurisdiction.

According to him, the spate of licenses marks a significant milestone for digital asset compliance in the region and shows that the regulation is gaining momentum.

Authorized stablecoin issuers

So far, 14 firms have been authorized to issue stablecoins or e-money tokens (EMTs) across seven EU countries. Notable licensed issuers include Circle, Crypto.com, Societe Generale, Stablemint, Quantoz, and StablR.

Together, these firms are behind 20 fiat-backed stablecoins, 12 pegged to the euro, seven tied to the US dollar, and one denominated in the Czech koruna.

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Author: Oluwapelumi Adejumo

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