European Union's Cryptocurrency Law MiCA Authorizes 53 Companies! Coinbase is Here, Binance and Tether are Not! Here's Why!

A one-year status report was announced after the European Union's

cryptocurrency

rules, MiCA, came into force in June after great debate last year.

Accordingly, within the scope of MİCA rules and in line with crypto regulations, it has been seen that 53 cryptocurrency companies have been licensed within the European Union so far.

According to a post by Patrick Hansen, Circle EU Strategy and Policy Director, Europes MiCA has authorized 53 cryptocurrency firms, but Binance and Tether are not on the list.

The MİCA list includes 14 licensed stablecoin issuers and 39 authorized crypto asset service providers from seven countries.

Companies such as Coinbase, Kraken, Bitstamp and Robinhood are now among those that can offer their services across the EU without the need for additional local approvals, as they have received MİCA approval.

Tether's absence from the list was not a surprise. Tether CEO Paolo Ardoino had previously stated that the MiCA rules were too harsh for stablecoin companies and said, “We will not apply for a MiCA license to protect over 400 million Tether users.”

According to Hansen's post, it was seen that the majority of stablecoin companies issued euro-indexed stablecoins. According to the data, 2 of the stablecoins were indexed to the euro, 7 to the dollar, and 1 to the Czech crown.