A one-year status report has been released after the European Union’s cryptocurrency rule, MICA, came into effect in June after major debate last year.
Therefore, within the scope of the MYCA regulations, we find that 53 cryptocurrency companies have been approved so far within the European Union, in line with the crypto regulations.
According to a post from Circle EU Strategy and Policy Director Patrick Hansen, the European MICA has approved 53 cryptocurrency companies, but Binance and Tether are not on the list.
The MYCA list includes 14 licensed Stablecoin issuers and 39 licensed crypto asset service providers from seven countries.
Companies such as Coinbase, Kraken, Bitstamp and Robinhood are among the companies that can provide services across the EU without the need for additional local approvals, as they have been approved by the MYCA.
It was no surprise that he was not on the list. Tether CEO Paolo Ardoino previously said the Mica rules were too strict for Stablecoin companies, saying, “We will not apply for MICA licenses to protect more than 400 million tether users.”
According to a post by Hansen, it was seen that the majority of Stablecoin companies issued euro-indexed Stablecoins. Data shows that two stub coins were indexed to the euro, seven dollars and one to the Czech crown.
*This is not investment advice.
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