Germany has emerged as the leading issuer of licenses under the European Union’s Markets in Crypto Assets (MiCA) regulation, with recent data highlighting the dominance of banks among newly authorized crypto service providers.
Germany leads MiCA licensing in Europe
In the third quarter of 2026, Germany granted MiCA licenses to 42 organizations, more than half of all new authorizations given across Europe during that period. FinPlanet, a digital asset management consulting and compliance firm, provided these figures based on information from Germany’s Federal Financial Supervisory Authority (BaFin) and the European Securities and Markets Authority (ESMA).
This wave of licensing is notable for the overwhelming presence of banking institutions, including several cooperative banks, among the approved entities. According to FinPlanet’s CASP Radar report, out of 100 companies registered as crypto asset service providers (CASPs) in the country, 65 are banks. This concentration reflects traditional financial institutions’ growing interest in entering the regulated crypto market.
Deutsche Bank, one of the world’s largest banking and financial services firms headquartered in Frankfurt, received its MiCA approval last month as part of this recent batch. Germany’s banking sector continues to shape the trajectory of digital asset adoption as the MiCA regime unfolds.
In the previous quarter, German regulators authorized 58 institutions to operate under MiCA. Additionally, 120 companies licensed in other EU nations are now eligible to provide services in Germany.
Mini dictionary: MiCA is the European Union’s regulatory framework for crypto assets, setting out requirements for licensing, transparency, and oversight for firms operating in the digital asset industry across member states.
| Country | MiCA licenses (Q3 2026) | Banks Licensed |
|---|---|---|
| Germany | 42 | 65 (out of 100 CASPs) |
| All other EU | 30 | Data not specified |
| Total Europe | 72 |
MiCA regulatory rollout and pace of approvals
The MiCA regulation, designed to establish a unified legal framework for the digital asset market in Europe, was approved by the European Parliament in April 2023 and formally published in June 2023. The law came into full effect across EU member states on July 1, 2026, after a staged rollout and transitional period.
From that date, all crypto service providers operating within the European Economic Area—including Norway, Iceland, and Liechtenstein—must hold a MiCA license. Despite a total of 363 entities now holding such authorization, growth in new approvals has slowed, falling from 105 in the second quarter to a lower number in the third quarter of 2026.
Not all applicants have been successful. Earlier in October, BaFin, the German financial regulator, rejected the MiCA license application of futurum bank AG, the operator of Bitcoin.de, a major coin trading platform that serves over 1 million users in Germany and Europe. The decision has raised concerns for the platform’s future presence in the regulated market.
According to FinPlanet, Germany now accounts for more than half of all new MiCA authorizations in the region, underscoring its leadership in regulated crypto market development within the EU.
Tax policy changes face resistance
Germany has long offered tax advantages for crypto investors, including an exemption on gains from selling digital assets held for more than a year. However, the federal government has proposed ending this tax break, suggesting a 25% capital gains tax should apply to all profits from crypto trading regardless of holding period.
The draft bill from the Finance Ministry has triggered opposition within parliament. Currently, the coalition cabinet led by Chancellor Friedrich Merz has postponed the proposed changes, responding to resistance from both the public and lawmakers within the ruling majority. This delay means crypto investors in Germany will continue to benefit from the favorable tax treatment for now.
The postponement of tax changes offers temporary relief to Germany’s crypto holders, who continue to enjoy the one-year exemption on digital asset gains.
