Crypto▲ Bullish
MiCA Regulation Drives 300 Firms Into Europe's Crypto Consolidation
MiCA's July 1 deadline left only 300 authorised firms in Europe, up from 194 in May. Bank-crypto partnerships accelerate. UK FCA opens September 30.
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The EU's Markets in Crypto-Assets regulation hit its full enforcement date on July 1, 2026. Any firm serving EU clients without MiCA authorisation had to stop immediately, starting wind-down plans or moving customer assets to authorised entities. By July, about 300 firms held the licence, up from 194 approved by May. That compares with more than 3,000 firms that previously operated under national registrations. The shift is part of a broader trend in the crypto market.
For many smaller operators, the cost of MiCA compliance – governance requirements and anti-money laundering controls – surpassed what their revenue could support. Scale became a deciding factor. The result has been a wave of mergers and acquisitions between crypto firms and traditional banks.
Banks Absorb Crypto Firms
CACEIS, the asset servicing arm of Credit Agricole and Santander, is nearing a deal to acquire Meria, a MiCA-licensed crypto platform. Bison Bank in Portugal integrated its digital-asset subsidiary and obtained MiCA authorisation. Cecabank in Spain began offering regulated crypto custody to financial institutions. Fireblocks was chosen by a group of European banks backing a MiCA-compliant euro stablecoin. Qivalis' consortium, which supports multi-jurisdiction crypto services, expanded to 37 institutions across 15 countries.