MiCA sorted the service providers: 1,343 operating, 281 licensed
Published on HivePostify by @sdatoken · Wed Aug 19 2026
1,343 exchanges. 281 licensed.
MiCA's grandfathering period for crypto-asset service providers ended on 1 July. TRM Labs identified 1,343 firms actually operating in the EEA; 281 got authorised, 1,062 didn't. The rest now exit, restructure, or migrate their clients.
Country by country it's brutal: Germany 55 of 57. Poland 0 of 1,800+. Finland 5 of 13 registered — and Finland was done a year early, closing its transition on 30 June 2025 after a six-month runway.
And it tracked risk. 12% of unauthorised firms are rated High or Severe vs 2% of authorised. Unauthorised firms sent $5.0B to sanctioned entities; authorised ones $1.7B.
SDA is on the issuer side of the same rulebook: MiCA Article 6, FIN-FSA as competent authority. Filed before launch, not after.
Source: TRM Labs — https://www.trmlabs.com/resources/blog/eu-vasps-after-mica-authorization-rates-and-illicit-exposure
Tags: #mica#crypto#regulation#eu#fintech