BNY Mellon and BitPay Secure MiCA Licenses as EU Crypto Registrations Reach 309

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BNY Mellon and BitPay Secure MiCA Licenses as EU Crypto Registrations Reach 309

The European Union’s regulatory framework for digital assets continues to solidify as the European Securities and Markets Authority (ESMA) updated its register of crypto-asset service providers (CASPs), adding major institutional players including a Belgian unit of BNY Mellon and the cryptocurrency payments firm BitPay. The new entries bring the total number of officially licensed CASPs under the Markets in Crypto-Assets (MiCA) regulation to 309.

Institutional Giants Enter the Fold

The inclusion of BNY Mellon’s Belgian entity marks a significant milestone for MiCA, as it signals the entry of one of the world’s largest custodian banks into the regulated European crypto ecosystem. BNY Mellon has been gradually expanding its digital asset services, and securing a MiCA license allows it to offer crypto custody and trading services across the 27-member bloc under a single, harmonized regulatory framework.

BitPay, a long-standing payments processor specializing in cryptocurrency transactions, also received its license. The company, which enables merchants to accept Bitcoin and other digital currencies, will now be able to operate more broadly within the EU’s single market, subject to ESMA’s oversight. The addition of these two firms highlights a growing trend of traditional finance and established crypto-native companies seeking regulatory clarity under MiCA.

The Significance of 309 Licensed CASPs

The ESMA registry, which is publicly accessible, now lists 309 entities that have successfully navigated the application process. This number has grown steadily since MiCA’s implementation began in 2023, with the full application of the rules taking effect in December 2024. The 309 figure represents a diverse mix of firms, from small fintech startups to multinational financial institutions.

For the broader market, the growing registry provides a clear signal of regulatory maturation. It also creates a competitive dynamic where licensed firms can advertise their compliance status as a trust signal to consumers and business partners. For investors, the list offers a verifiable way to identify regulated service providers, reducing the risk of dealing with unlicensed entities.

What This Means for the Crypto Industry

The MiCA regulation is widely regarded as the world’s most comprehensive legal framework for digital assets. By requiring all CASPs to obtain a license from their home member state and then passported across the EU, it creates a level playing field. The inclusion of major names like BNY Mellon and BitPay is likely to accelerate the trend of institutional adoption, as other large financial firms may now view MiCA compliance as a necessary step for European market access.

For consumers, the development means greater protection. Licensed CASPs must adhere to strict rules on custody, disclosure, and anti-money laundering. The ESMA registry serves as a practical tool for anyone in the EU to verify whether a crypto service provider is operating legally.

Conclusion

The addition of BNY Mellon and BitPay to the ESMA’s MiCA registry is more than a bureaucratic update; it is a concrete indicator of the EU’s success in creating a regulatory environment that attracts both legacy finance and crypto-native innovation. With 309 licensed entities now on the books, the MiCA framework is proving to be a central pillar in the global effort to bring digital assets under responsible, transparent oversight.

FAQs

Q1: What is the MiCA regulation?
MiCA stands for Markets in Crypto-Assets, a comprehensive EU regulation that establishes a legal framework for crypto-asset service providers and issuers of crypto-assets. It aims to protect consumers, ensure market integrity, and provide legal certainty for businesses operating in the digital asset space across the European Union.

Q2: How can I check if a crypto service is licensed under MiCA?
ESMA maintains a public register of all licensed CASPs on its official website. Users can search by company name or member state to verify the regulatory status of any crypto service provider operating in the EU.

Q3: Why is BNY Mellon getting a MiCA license significant?
BNY Mellon is one of the world’s largest custodian banks, with over $2 trillion in assets under custody. Its decision to obtain a MiCA license signals strong institutional confidence in the EU’s regulatory framework and is likely to encourage other traditional financial institutions to enter the regulated crypto market.

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