BNY Mellon unit joins MiCA register in ESMA's latest update
European regulator adds 15 new crypto asset service providers to its list.
115 new companies added to MiCA register
The European Securities and Markets Authority (ESMA) added 15 new Crypto Asset Service Providers (CASPs) to the MiCA framework in its July 27 update. This brings the total number of registered CASPs to 309. The new additions include BNY Mellon's Belgian subsidiary BNY SA/NV and three German banks. Digital asset platforms such as BitPay, Coinify, and Bleap were also included in the registry. The update reflects ongoing efforts to regulate the crypto sector under the EU's unified framework.
2BNY Mellon's strategic move
US banking giant BNY Mellon entered the MiCA registry through its Belgian subsidiary BNY SA/NV. This step signals traditional financial institutions' growing interest in the crypto asset sector. Alongside BNY Mellon, cooperative banks like Germany's Raiffeisenbank Falkenstein-Wörth also joined the list. The inclusion of established banks marks a significant step in the integration of crypto and traditional finance, potentially increasing institutional adoption of digital assets across Europe.
3Country-by-country distribution
Germany and Denmark led the latest update with three new CASPs each, followed by Bulgaria and Latvia with two additions apiece. Belgium, Cyprus, Liechtenstein, and the Netherlands each registered one new provider. Notable newcomers include Denmark's SafeLynx Technologies and digital asset infrastructure company Januar, along with Bulgaria's Altcoins BG and Digital Assist. The geographic spread indicates widespread compliance efforts across EU member states with varying crypto market maturity levels.
4MiCA's industry impact
The MiCA framework introduces the EU's first unified rules for crypto asset providers, aiming to increase oversight in the sector. This third update follows the July 1 transitional deadline, with previous additions including major players like Ripple Payments Europe. Regulators continue expanding the list as companies complete licensing procedures across European markets. The phased approach demonstrates the complexity of implementing comprehensive crypto regulations while maintaining market stability and innovation.
5Challenges for smaller players
Industry executives warn that MiCA compliance costs could force smaller firms out of the market. Gate Europe CEO Giovanni Cunti notes some licensed companies may struggle to sustain long-term compliance resources. This could accelerate industry consolidation, favoring larger, well-capitalized players. Regulatory requirements are becoming a significant operational cost factor, particularly for SMEs, potentially reshaping the competitive landscape of Europe's crypto sector in coming years.
6No changes in other registers
ESMA's latest update showed no modifications to other MiCA-related registers, including authorized issuers of asset-referenced tokens (ARTs) and electronic money tokens (EMTs), nor the non-compliant entities list. This suggests different regulatory tracks are progressing at varying speeds. Crypto asset issuer registration appears more complex and time-consuming, with regulators currently prioritizing service provider authorization as the foundation for market oversight under the new framework.
7MiCA amid industry developments
MiCA implementation evolves alongside rapid crypto sector developments, as seen with Swiss bank BancaStato launching regulated crypto trading through Sygnum. Such moves indicate accelerating integration of traditional finance into digital assets. MiCA's dual role emerges clearly: enhancing investor protection while supporting innovative financial products. The framework aims to stabilize the market without stifling growth, though balancing these objectives remains an ongoing challenge for EU regulators monitoring the fast-changing sector.
8Europe's crypto vision
The MiCA framework represents a cornerstone of the EU's strategy to assume global leadership in crypto asset regulation. Unified rules aim to attract investment and ensure financial stability, though compliance costs may disadvantage some market participants. Whether MiCA ultimately fosters healthy industry growth while maintaining competitiveness against other jurisdictions will become clearer in coming years as implementation progresses and market responses crystallize across European crypto ecosystems.
Original article: Cointelegraph.com News — BNY Mellon Avrupa birimi MiCA kaydına dahil oldu