ESMA's MiCA Register Hits 280; USDT Still Outside

The European Securities and Markets Authority added 37 crypto companies to its MiCA register on July 3, 2026. The total now stands at 280 approved providers across the EU.

Standard Chartered's Luxembourg subsidiary and FalconX, authorized in Malta, are among the new names. Germany retains the highest count at 58 authorizations. France follows with 31, the Netherlands with 26. Cyprus added six licenses.

The register lacks a key category. No company is yet authorized to issue asset-referenced tokens, or ARTs. That means the framework does not cover stablecoin issuers like Tether's USDT, which commands more than 70% of the market.

Tether's USDT operates outside European regulatory reach. No European issuer has built a competing product with comparable adoption. The European Commission has announced an early revision of MiCA, an acknowledgment that the current rules cannot address foreign stablecoins.

Of the roughly 3,000 crypto companies active in the EU before MiCA, only 280 have obtained licenses. The other 80% have exited the market. That leaves fewer than 300 licensed providers across the bloc.

USDT ignores regulatory borders. Europe's own rules have not changed that. The register is a milestone. It remains incomplete.

The European Commission has not set a date for the revision. The register currently lists 280 approved firms, with no ART issuers among them.