Denmark's Penning Financial Services disappeared from the European Securities and Markets Authority's MiCA register in the October 16, 2026 update, despite Penning stating its authorization remains unchanged and unnotified by regulators.

How governments worldwide set rules for digital assets through legislation, agency rulemaking, licensing regimes and court fights.

Comprehensive legal regimes for digital assets, such as the EU's MiCA and proposed US market-structure bills, defining how tokens are issued, traded, and supervised.