The European Securities and Markets Authority (ESMA) updated its Markets in Crypto-Assets Regulation (MiCA) register on Friday, adding nine new crypto-asset service providers (CASPs). This expansion brings the total number of unique registered providers to 375. Among the newly listed entities are BingX, through its Austrian subsidiary MEGE zweite, and YouHodler, via its Italian subsidiary. YouHodler’s registration authorizes it for custody, crypto exchanges, order execution, and transfers.
Both companies announced their regulatory approvals last week. Daniel Lai, CEO of BingX EU, stated that the authorization enables the firm to operate within a clear regulatory framework as it prepares to launch regulated services across the European Economic Area. Other additions to the register include Spain’s Prakma Markets, linked to the Goin crypto app, which offers savings and investment platforms. German entries now feature Openbank Deutschland, a subsidiary of Banco Santander, along with cooperative lenders VR-Bank Alb-Blau-Donau and VR Bank im südlichen Franken.
In contrast, Denmark’s Penning Financial Services was removed from the list, despite having appeared in previous updates since July 3. The e-money token (EMT) register remained unchanged at 50 entries representing 25 unique entities, while the asset-referenced token (ART) register stayed empty. Meanwhile, the register of non-compliant crypto-asset service providers (NCASPs) grew by five entries, reaching a total of 178.
The inclusion of major platforms like BingX and YouHodler in the ESMA MiCA register signals a maturing regulatory landscape where established crypto firms are actively seeking formal authorization to access the European market. By securing licenses for specific activities such as custody and exchange, these entities demonstrate compliance with stringent operational standards, potentially setting a benchmark for competitors aiming to enter the European Economic Area. This trend suggests that regulatory clarity is becoming a competitive advantage rather than just a compliance burden.
However, the simultaneous removal of Penning Financial Services and the increase in non-compliant provider listings highlight the ongoing enforcement challenges faced by regulators. While the growth in registered CASPs indicates industry consolidation toward compliant models, the rising NCASP count reflects persistent gaps in adherence to MiCA requirements. Market participants should monitor whether this divergence between authorized and non-compliant entities leads to stricter enforcement actions or further market fragmentation in the coming quarters.
