Europe comes second in terms of its regulation. With 280 MiCA approved companies now, the Old Continent wants to compete with the giants of the crypto sector. But doesn't this progress hide flaws in the hegemony of USDT? Let's dive into the heart of the challenges of a regulatory revolution that is still unfinished.
In brief
- 280 crypto companies are now authorized under MiCA, with a historic update on July 3, 2026.
- Standard Chartered, FalconX and other major players join the ledger, but USDT remains out of control.
- 80% of crypto companies abandon the EU, revealing the limits of MiCA in front of the sector's behemoths.
MiCA: Europe increases to 280 approved crypto companies
ESMA has officially reached a key milestone. In fact, its MiCA registry welcomed 37 new crypto businesses, bringing the total number of approved providers in Europe to 280. This update of July 3, 2026 marks the end of the transition period and the strict entry into force of the European regulatory framework. These new players include well-known names such as Standard Chartered (through its Luxembourg subsidiary) and FalconX, licensed in Malta.
Germany remains at the top of the ranking with 58 authorizations, ahead of France (31) and the Netherlands (26). Cyprus, for its part, brought 6 new licenses, demonstrating its growing role in the European crypto ecosystem. But this register remains incomplete since no company is yet authorized to issue asset-linked tokens (ART). A sign that MiCA is struggling to encompass all aspects of the market.
MiCA enters review: an admission of failure against USDT?
Europe boasts of its pioneering regulation, but MiCA is already showing its limits. Because Tether's USDT stablecoin, which represents more than 70% of the market, remains unattainable for European regulators. Worse, no European solution manages to compete with its massive adoption. To this end, the European Commission announced an early review of MiCA, implicitly recognizing its inability to regulate foreign stablecoins.
Of the 3,000 crypto companies that were initially operating in the EU, only 280 managed to obtain their license. The others? 80% are exiting the market. An exodus that raises the question: is MiCA too strict, or simply ineffective in the face of behemoths like Tether? The USDT, still in power, does not care about regulatory boundaries. Europe itself seems to be under the influence of its own rules.
MiCA is a step forward, but its results are mixed: 280 licenses out of 3,000 crypto players at the start. Europe regulates, but has difficulty innovating. What if the real battle was being fought elsewhere? Should we relax MiCA or accept that Tether (USDT) continues to dominate for a long time to come?
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