The European Securities and Markets Authority (ESMA) has added 14 new Crypto Asset Service Providers (CASPs) to its MiCA register, bringing the total number of registered firms to 294. The latest additions include Ripple Payments Europe and several banking institutions, though the pace of new registrations has slowed since the initial regulatory deadline passed.
The MiCA (Markets in Crypto-Assets) regulation, which came into full effect earlier this year, requires all crypto asset service providers operating in the European Union to obtain authorization from a national competent authority and register with ESMA. The register serves as a central database of all compliant crypto firms across the bloc.
Ripple’s inclusion in the register is notable, as it marks the company’s formal recognition as a regulated crypto service provider in the EU. Ripple has been expanding its European presence and recently secured a full MiCA license through Luxembourg’s financial regulator. The company offers cross-border payment solutions using XRP and its RLUSD stablecoin.
The slowdown in new registrations reflects the fact that most major crypto firms with European operations have already obtained authorization. The initial wave of registrations included major exchanges such as Binance, Coinbase, and Kraken, as well as custody providers and payment processors.
MiCA establishes a comprehensive regulatory framework for crypto assets in the EU, covering everything from stablecoin issuance to exchange operations. Firms that fail to register face restrictions on serving EU customers, making compliance a priority for any crypto business with European ambitions.
This article was adapted from Cointelegraph. Read the original here.
