The European Securities and Markets Authority (ESMA) added 12 new companies to the MiCA register, bringing the total number of authorized crypto-asset service providers to 321. This update also includ
In its fourth post-deadline update since July's transitional deadline, ESMA has expanded the Markets in Crypto-Assets (MiCA) register by adding 12 new companies. The total number of authorized crypto-asset service providers now stands at 321. This significant addition includes three German cooperative banks and four French entities among others.
The latest additions to the MiCA list are noteworthy for their geographical diversity, with two Spanish companies—Basque Pay and Fintech Payments—and one from each of Germany (Volksbank Raiffeisenbank Oberbayern Südost, VR Bank Schleswig-Holstein Mitte, VR-Bank Landau-Mengkofen) and France (Finary, Woorton, Blockchain Process Security, Shares Financial Assets).
This update also marked the addition of three entities to ESMA's non-compliant register: Cervo Rendisco, Flandenzo, and Corona Fondenza. These were flagged by Italy’s Commissione Nazionale per le Società e la Borsa (CONSOB), bringing the total number in this list to 167.
The MiCA framework aims to regulate crypto-asset service providers across Europe, ensuring transparency and investor protection while maintaining a level playing field for financial services. This latest update reflects ongoing efforts by regulatory bodies like ESMA to implement these regulations effectively.
Market reaction has been largely neutral as the inclusion of more authorized entities generally signals compliance with MiCA standards but does not directly impact trading volumes or asset prices. However, the addition of non-compliant entities could potentially lead to increased scrutiny and stricter enforcement actions in future updates.
Traders should closely monitor regulatory developments and any further changes to the MiCA registers as they can significantly influence market perceptions and investor behavior. The expansion of authorized CASPs may bolster confidence in regulated crypto assets, while the addition of non-compliant entities could prompt caution among investors.
Source: Cointelegraph. Summarized and rewritten by the Vexoda Newsroom. This is market news, not financial advice.