ESMA Registers 14 New CASPs Amid Slowing Licensing Activity
ESMA has added 14 new CASPs to its MiCA register, including banks and Ripple Payments Europe, as the licensing pace slows.
Introduction to ESMA's Recent Additions
The European Securities and Markets Authority (ESMA) has recently added 14 new Crypto Asset Service Providers (CASPs) to its Markets in Crypto-Assets (MiCA) register. This update brings the total number of registered providers to 294.
Who Are the New Entrants?
The latest additions to the MiCA register include prominent names such as banks and the blockchain payments company Ripple Payments Europe. This hints at a diverse interest and participation from traditional finance and advanced fintech companies in the crypto space.
The State of MiCA Licensing
Although ESMA's expansion of the MiCA register is notable, there are indications that the pace at which new licenses are being issued is slowing. Various underlying reasons might contribute to this trend, such as market conditions or regulatory adjustments.
Conclusion and Outlook
The addition of these 14 CASPs, including significant financial institutions, marks a strategic expansion of the crypto regulatory framework in Europe. Despite the slower licensing momentum, the steady increase in registered providers suggests continued interest in compliant participation in the crypto market.
FAQ
What is MiCA?
MiCA, or Markets in Crypto-Assets, is a regulatory framework by ESMA for overseeing crypto assets in the EU.
Who are CASPs?
CASPs are Crypto Asset Service Providers, entities that offer various services related to cryptocurrencies.