Banks Double Their Presence on EU MiCA Crypto Provider Registry
(14 days ago) · 1 source · Summarized by CryptoBipto
The number of banks registered as crypto asset service providers under the EU's Markets in Crypto-Assets (MiCA) regulation has doubled, with banks now making up 23% of the registry. This growth signals increasing participation by traditional financial institutions in the European crypto market under the new regulatory framework.
WHY IT MATTERS
Think of MiCA as a new rulebook that the European Union created for companies that want to offer crypto services — like buying, selling, or storing cryptocurrency — to customers in Europe. Companies have to register and prove they follow the rules, similar to how banks already need licenses to operate. The fact that traditional banks are signing up in growing numbers is significant because it shows that the same institutions people use for savings accounts and mortgages are increasingly entering the crypto space through official, regulated channels. For someone new to crypto, this means that in Europe, there is a clearer legal structure governing who can offer crypto services, and traditional banks are becoming a bigger part of that landscape.
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- cointelegraph.com
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