Banks rise to 23% of crypto firms registered under EU MiCA

Banks now account for 23% of cryptocurrency businesses registered under the European Union’s Markets in Crypto-Assets regulation, according to Cointelegraph. Between June 26 and Sept. 16, the number of banks on the MiCA crypto-asset service provider, or CASP, registry doubled to around 80 from about 40. Over the same period, the total number of registered CASPs rose to 349 from 243. The data showed non-bank firms’ share of the total fell to 77% in September from about 84% in late June, while banks’ share increased to 23% from 17%. Cointelegraph said European banks are entering the crypto market more quickly as the MiCA regulatory framework takes hold.