Germany has obtained 57 MiCA‑authorized crypto‑asset service provider licences, representing about 23 % of the 244 licences issued under the EU’s Markets in Crypto‑Assets Regulation, while France follows with 26 licences, or 11 % of the total. The European Securities and Markets Authority’s interim register, compiled on Friday, shows that licensing activity accelerated in late June, with France issuing five approvals between June 18 and June 22. The MiCA framework, which takes effect on July 1, is intended to create a single European crypto market, but national regulators continue to apply the rules unevenly. BaFin said the high number of German authorisations reflects the size of the country’s financial sector and a pre‑existing national licensing regime that allows simplified pathways. A BaFin spokesperson noted that it is difficult to predict whether Germany will retain its dominant share as MiCA implementation proceeds, with outcomes depending on market developments and pending applications. Other EU members are expected to increase authorisations over time, aligning roughly with the size of their financial sectors. Five member states – Greece, Hungary, Poland, Portugal and Romania – have not issued any MiCA licences as of June 26, according to ESMA data. Italy accounted for 160 of 162 non‑compliant entries in ESMA’s register, while the Netherlands and Slovakia each have one licence, linked to MEXC and LWEX respectively. The distribution of licences underscores continued fragmentation in the rollout of MiCA across the bloc.