Germany Seizes EU Lead in Unified Encryption Regulation: 6 Collaborating Banks Join New Cryptographic Service Provider Roster, 79 CASPs Surpassing France, Netherlands

BlockBeats News, August 24th. Today, the European Securities and Markets Authority updated the MiCA Cryptocurrency Service Providers Register, with the total number of EU-authorized CASPs (Cryptocurrency Asset Service Providers) reaching 331. The 6 new additions are all German cooperative banks, including Raiffeisenbank Aidlingen, Ihre Volksbank, VR-Bank Mittelfranken Mitte, Volksbank Euskirchen, VR Bank Ried-Überwald, and Volksbank Backnang. Germany now has 79 CASPs, leading the EU by a large margin, surpassing France's 35 and the Netherlands' 29. Since the end of June, when Germany led the EU with 57 CASPs, the number of authorizations has continued to rise rapidly.

The German Federal Financial Supervisory Authority previously explained that the country's leading number of MiCA authorizations is mainly due to its large financial sector and a significant number of eligible credit institutions to provide cryptocurrency services. Germany's existing national licensing regime has also played a crucial role during the transition period, as some CASPs can obtain authorization through a streamlined process, leading to a significantly faster pace compared to other member states. In this update, there were no changes to Asset Reference Tokens, Electronic Money Tokens, and Non-Compliant Entity Dataset: the ART register remains empty, EMT stays at 43 items, and the Non-Compliant Entity list remains at 167 items. Under the EU's unified cryptocurrency regulatory framework, Germany is seizing the lead in compliance.