- 53 firms now hold MiCA approval to operate across the EU
- Tether was excluded for failing to meet audit transparency requirements
- Binance continues to face regulatory hurdles in multiple EU nations
The EU’s MiCA regulation is officially reshaping the crypto landscape — and not everyone’s making it through the door. So far, 53 firms have secured approval to operate across the EEA, including 39 crypto service providers and 14 stablecoin issuers.
But industry giants like Tether and Binance? Still on the outside.
Tether’s absence isn’t a shock. Despite being the biggest stablecoin issuer, it still hasn’t produced a full independent audit of its reserves — a key MiCA requirement. Until that changes, no green light.
Binance’s situation is different but just as telling. It’s been withdrawing from key European markets due to mounting regulatory pressure. With MiCA tightening the rules, flying under the radar just isn’t an option anymore.
The takeaway? The EU’s playing hardball — and only the compliant are invited.
