MiCA adoption across the European Union has been sluggish, with only 25 crypto firms licensed as of May 17, despite the framework taking full effect in December 2024

Event date

May 17, 2025

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However, the adoption rate has been slower than expected. Within the first 100 days of implementation, only 15 CASPs registered under the framework. According to Hansen, that number has since increased to 25 as of May 17, with most of these MiCA licenses granted in Germany.

Meanwhile, Trade Republic getting authorization to offer crypto services by BaFIN means that 25 companies have now gotten licenses under the MiCA framework. This highlights how slow the licensing process has been in Europe, given that MiCA went into full force in December 2024

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Week 20 of 2025