MiCA's First Week: 21 Stablecoin Issuers, 270+ CASPs Approved

One week after full enforcement of the Markets in Crypto-Assets Regulation took effect across the European Union, 21 stablecoin issuers and more than 270 crypto asset service providers held regulatory authorizations, according to public registers maintained by the European Securities and Markets Authority.

The figures capture the state of play seven days after MiCA became binding law. They cover firms that completed licensing under the regime's phased rollout, which replaced the prior patchwork of national crypto rules. The 21 stablecoin issuers reflect a separate track under MiCA: regulators treat stablecoins as systemically important settlement rails, imposing distinct reserve and redemption requirements.

The 270-plus authorized CASPs – exchanges, custodians, brokers, and advisory firms – now hold a passport to operate across all 27 member states. For users, authorization means baseline custody, conflict-of-interest, and complaint-handling standards are met. For firms without approval, the pressure is rising. MiCA empowers national competent authorities to restrict or prohibit unauthorized services. The transition period that shielded existing operators is closing.