Only 7% of European crypto firms have obtained MiCA licenses

Only 7% of cryptocurrency operators in Europe have so far obtained licenses that comply with the European Union's Markets in Crypto-Assets (MiCA) regulation, BeInCrypto reported. As of 2024, there are 2,747 registered Virtual Asset Service Providers (VASPs) across the EU, but only 210 of them have secured a MiCA-compliant license. The current MiCA law requires firms to obtain a Crypto-Asset Service Provider (CASP) license by July 1. After this deadline, unlicensed companies must cease operations. Meanwhile, the European Commission recently launched a formal review of the MiCA legislation.