EU MiCA Regulations Statistics 2026: Licenses, Stablecoins and Fines

A total of 384 crypto-asset service providers (CASPs) held authorization under the EU’s Markets in Crypto-Assets Regulation (MiCA) as of October 24, 2026. Elliptic’s June 29, 2026 analysis put the register at 213 CASP entries across 23 jurisdictions, so the count rose 80.3% between the two snapshots. These EU MiCA regulations statistics track that register as it fills in after the deadline. Below: license counts by country, deadlines, stablecoins, capital rules and fines.

The European Securities and Markets Authority (ESMA) is the EU regulator and supervisor. ESMA said the MiCA transitional period would officially expire across the EU on July 1, 2026. Germany holds 114 of the 384 licenses in CASP Tracker’s October 26, 2026 count. Per Decta, the total market capitalization of the eight MiCA-compliant euro stablecoins reached $673.9 million by June 28, 2026.

Key Takeaways

• ESMA’s register grew from 17 CASPs authorized across seven EU member states on April 15, 2025, per TRM Labs, to 384 CASPs as of October 24, 2026, per PaymentProviders.io.
• CASP Tracker shows Germany holding 114 CASP licenses, ahead of France at 36 and the Netherlands at 29, on October 26, 2026.
• 28 Volksbanken and Raiffeisenbanken joined the register between July 21 and September 17, 2026, for 39 in total, or 41% of Germany’s CASPs, according to PaymentProviders.io.
• Decta reports that EURC held a total average market capitalization of $430.4 million, equal to 63.9% of the $673.9 million combined market cap of eight MiCA-compliant euro stablecoins in June 2026.
• By July 1, 2026, the Czech National Bank (CNB) had assessed 251 applications, the highest number of MiCA applications in the European Union.
• Legal persons face MiCA maximum fines of at least €5,000,000 or 12.5% of total annual turnover, depending on the infringement.

Editor’s Choice

• Authorized CASPs on ESMA’s interim register: 384 as of October 24, 2026.
• EU/EEA markets in CASP Tracker’s register count: 30 as of October 26, 2026.
• National regulators in CASP Tracker’s register count: 27 as of October 26, 2026.
• Combined market cap of eight MiCA-compliant euro stablecoins: $673.9 million at June 28, 2026.
• Czech National Bank MiCA applications assessed: 251 by July 1, 2026.
• Minimum ceiling for fines on natural persons: at least €700,000.
• Austrian Financial Market Authority (FMA) fine on Bitpanda GmbH: €70,000, released August 14, 2026.

MiCA Authorized Crypto-Asset Service Providers: Total Count

• PaymentProviders.io counted 384 CASPs authorized under MiCA on ESMA’s interim register as of October 24, 2026.
• CASP Tracker verified 384 licensed providers on October 26, 2026, covering 30 EU/EEA markets and 27 national regulators.
• ESMA dated its latest interim MiCA register update October 22, 2026.
• The register count rose 80.3% between Elliptic’s June 2026 count and the October 24, 2026 count.
• Elliptic counted 41 firms authorized in December 2025 alone, the single largest month in its June 29, 2026 analysis, as firms raced national filing cut-offs.
• Elliptic noted that ESMA publishes the register weekly and that authorizations reported by national authorities are not displayed immediately.

Source: TRM Labs, Elliptic, PaymentProviders.io, CASP Tracker (counts of the ESMA interim MiCA register, 2025 to 2026)

How many crypto firms are licensed under MiCA?

384 crypto-asset service providers held MiCA authorization in late October 2026, according to counts of ESMA’s register by PaymentProviders.io and CASP Tracker. ESMA’s MiCA page describes the interim register as five csv files, published at weekly intervals, so the total moves between updates.

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About This Data

Compiled from 17 sources: 10 EU regulator, national regulator and EU law documents, 4 blockchain analytics and industry reports, and 3 trackers of ESMA’s register. Sources run from December 2024 to October 2026, plus the 2023 text of the regulation. Only regulator data, the regulation itself, named analytics and industry firms, and trackers that count ESMA’s own register qualified. Figures are reviewed on a rolling basis and updated when sources publish new editions.

EU MiCA Regulations Statistics: Licenses by Country

• Germany accounts for 114 of the 384 licensed providers on October 26, 2026, or 29.7% of the register.
• Cyprus holds 25 licenses and Malta 23, ahead of Spain at 16.
• Hungary, Poland and Romania showed 0 licenses in the October 26, 2026 count.
• EEA countries Liechtenstein, Norway and Iceland had 12, 6 and 1 licenses.
• Czechia, Ireland and Latvia each had 12, and Italy had 10.

Recent Developments

• October 26, 2026: CASP Tracker verified 384 licensed providers against the ESMA register, whose data last changed on October 22, 2026.
• October 22, 2026: ESMA published its latest interim MiCA register update.
• October 8, 2026: ESMA published an opinion saying MiCA-authorized CASPs should cease services related to non-MiCA-compliant stablecoins, with remediation no later than three months after publication.
• September 17, 2026: PaymentProviders.io counted 28 Volksbanken and Raiffeisenbanken added to the register between July 21 and September 17, 2026, each authorized for a single service, order execution, in Germany only.
• August 14, 2026: The FMA fined Bitpanda GmbH €70,000 for breaches including failing to submit a crypto-asset white paper at latest 20 working days before publication.

MiCA License Hubs Before and After the Deadline

• Elliptic’s June 2026 count put Germany at 55, the Netherlands at 26 and France at 19.
• The five largest jurisdictions held 127 of the 213 entries, close to 60% of the total.
• Germany’s October count of 114 is 2.07 times its June count of 55.
• By September 17, 2026, 39 Volksbanken and Raiffeisenbanken made up 41% of Germany’s CASPs.
• Elliptic said a large share of Germany’s entries are established banks and brokerages taking narrow permissions rather than crypto firms.

Why it matters: The 28 German cooperative banks added between July 21 and September 17, 2026 were each authorized for a single service, order execution, in Germany only. Germany’s lead therefore rests heavily on banks taking a single order-execution permission, not only on crypto-native firms choosing a home state.

MiCA License Applications at the Czech National Bank

• The CNB assessed 251 applications to provide crypto-asset services by July 1, 2026, including notifications from existing financial market entities.
• Licenses in the CNB release equal 4.4% of the applications it assessed.
• The CNB said a significant share of applications was wholly insufficient in terms of content.
• Only a very small proportion of applicants had a realistic and transparent business model, ownership structure and method of financing, according to the CNB.
• Czechia showed 12 licenses in CASP Tracker’s October 26, 2026 count.

Is Binance licensed under MiCA?

No. The Binance exchange applied for authorization through the Greek regulator but did not obtain it before the end of the transitional period, the CNB said. As of July 1, 2026, the CNB said, Binance must cease providing crypto-asset services across the entire European Union.

MiCA Transitional Period and Grandfathering Deadlines

• CASPs that provided services under applicable law before December 30, 2024 could continue until July 1, 2026 or until granted or refused authorization, whichever came sooner.
• Member states could skip the transitional regime or shorten it where national rules applicable before December 30, 2024 were less strict than MiCA.
• Belgium, France, Malta, Cyprus and Spain set 18-month grandfathering periods.
• In the Netherlands, the grandfathering period is 6 months.
• ESMA’s April 17, 2026 statement said any entity providing crypto-asset services to EU clients without a MiCA license after July 1, 2026 would be in breach of EU law.
• ESMA’s June 23, 2026 statement said unauthorized CASPs must immediately stop onboarding new EU clients.

Source: ESMA list of grandfathering periods decided by member states under MiCA Article 143

MiCA Implementation Timeline

• Under the MiCA rulebook, the regulation applies from December 30, 2024, while Titles III and IV applied from June 30, 2024.
• Title III covers issuers of asset-referenced tokens (ARTs) and Title IV covers issuers of e-money tokens (EMTs).
• In its statement of December 4, 2025, ESMA set out the expectation that CASPs have orderly wind-down plans in place.
• ESMA’s October 8, 2026 opinion applies to the full range of crypto-asset services, from trading platforms to custody and portfolio management.

When did MiCA come into full effect?

MiCA has applied in full since December 30, 2024, while its Titles III and IV took effect on June 30, 2024. For crypto-asset service providers, ESMA said the transitional period would officially expire across the EU on July 1, 2026. After that date, any entity providing crypto-asset services to EU clients without a MiCA license would be in breach of EU law.

MiCA-Compliant Euro Stablecoins by Market Cap

• Decta found that only eight euro-pegged stablecoins met its criteria of being MiCA-compliant, still issuing and actively traded, measured over 52 weeks from June 30, 2025 to June 28, 2026.
• EURC had the highest market capitalization throughout the year, at a total average of $430.4 million.
• EURC’s $430.4 million equals 63.9% of the $673.9 million combined market cap of the eight coins.
• Beyond EURC, EURCV, EURI and EURE, the remaining stablecoins each had average market capitalizations of less than $13 million.
• EURI, EUROP and EURAU entered the market partway through the year.

Key finding: Circle’s EURC achieved 2,727% growth between July 2024 and June 2025, far outpacing USDC’s 86% growth during the same period, according to Chainalysis. A euro token that MiCA-licensed venues can offer grew far faster than Circle’s USDC, though Chainalysis noted the expansion came from a modest base.

Euro Stablecoin Growth Under MiCA

• The total market capitalization of the eight MiCA-compliant euro stablecoins rose from $295.6 million to $673.9 million over the year, a growth of 128.0%.
• Their total trading volume rose from $47.0 million to $67.3 million, a growth of 43.1%.
• EURCV posted the highest percentage growth in market capitalization, at 180.6%.
• Chainalysis said that by restricting CASPs to MiCA-compliant stablecoins, the framework effectively excluded market leader USDT.

Source: Decta Euro Stablecoin Trends Report 2026 (52 weeks, June 30, 2025 to June 28, 2026)

European Crypto Market Size by Country

• Between July 2024 and June 2025, Russia emerged as the dominant European crypto market with $376.3 billion received, according to Chainalysis.
• Chainalysis linked Germany’s 54% growth to its emergence as a preferred destination for crypto-native firms, seemingly attracted by established financial infrastructure and smooth implementation of MiCA regulations.
• Chainalysis’ crypto adoption by country research put growth in Ukraine at 52% and Poland at 51%.
• The difference in volume between the UK and markets such as Germany, Ukraine and France has narrowed significantly, according to Chainalysis.
• These figures cover July 2024 to June 2025, so they predate the end of the transitional period and are more than 12 months old.

MiCA Capital Requirements for CASPs

• Class 1 covers execution of orders, placing of crypto-assets, transfer services, reception and transmission of orders, advice and portfolio management.
• Class 2 adds custody and administration of crypto-assets and exchange of crypto-assets for funds or other crypto-assets.
• Among the MiCA compliance requirements, a Class 3 provider, which adds operation of a trading platform for crypto-assets, needs €150,000.
• Class 3’s floor is 3 times the Class 1 floor.

MiCA Fines and Penalties

• Under the MiCA penalty framework, natural persons face maximum administrative fines of at least €700,000.
• The FMA concluded its Bitpanda GmbH proceedings in an accelerated manner and imposed a €70,000 fine.
• Bitpanda GmbH also issued a marketing communication without having published the required crypto-asset white paper beforehand, according to the FMA.
• The European Banking Authority (EBA) published a consultation on June 26, 2026 on a methodology for setting fines on issuers of significant crypto-assets.
• The EBA set September 28, 2026 as the deadline for comments.

Source: Regulation (EU) 2023/1114, Article 111, via EUR-Lex

Worth noting: The FMA fine of €70,000 on Bitpanda GmbH covered several breaches of MiCAR, including failing to submit a crypto-asset white paper to the FMA at latest 20 working days before publication. That penalty sits far below the maximum fines MiCA requires member states to allow for legal persons, listed in the table above, and those maximums mark upper limits rather than typical outcomes.

MiCA Significance and White Paper Thresholds

• An asset-referenced token becomes significant when its holders number more than 10 million, among other criteria.
• A CASP is deemed significant with at least 15 million active users in the Union, on average, in one calendar year.
• CASPs must notify their competent authorities within two months of reaching that number of active users.
• Offers of crypto-assets other than asset-referenced tokens or e-money tokens made to fewer than 150 persons per member state do not need a crypto-asset white paper.

Source: Regulation (EU) 2023/1114 via EUR-Lex

ESMA Supervision of MiCA Firms

• ESMA launched a Common Supervisory Action (CSA) on CASPs’ digital operational resilience for custody on July 8, 2026.
• National competent authorities will run the exercise on a risk-based sample of authorized CASPs from the second half of 2026 to the first half of 2027.
• As of April 15, 2025, ESMA’s list of non-compliant entities held 15 entities, all reported by Italy’s Commissione Nazionale per le Società e la Borsa (CONSOB).
• ESMA’s stablecoin opinion calls on national authorities to ensure CASPs prevent clients from acquiring or increasing exposures to non-MiCA-compliant stablecoins.

Source: ESMA press releases and statements, 2026

Conclusion

384 CASPs held MiCA authorization on ESMA’s register as of October 24, 2026, up from 213 entries in Elliptic’s June 29, 2026 count. The register is still filling in after the deadline, and Germany’s bank-led total makes the headline count look broader than the crypto-native market behind it.

ESMA expects national authorities to require remediation of remaining non-MiCA-compliant stablecoin exposures no later than three months after its October 8, 2026 opinion. The next register updates will show whether license growth holds and whether compliant euro stablecoins keep gaining ground.