The Czech Republic leads among all EU countries.
Italy, France, Spain, Estonia, the Netherlands, Bulgaria and Slovenia are among the 10 countries with the most cryptocurrency companies.
DL News reported that approximately 1,000 cryptocurrency companies within the European Union (EU) successfully obtained Virtual Asset Service Provider (VASP) licenses in 2023. The total number of these organizations is expected to reach 11,597 by the end of 2023, according to the new analysis.
The Czech Republic tops the list of most registered cryptocurrency companies, likely because both individuals and entities have the option to register as virtual asset service providers. About 83% of providers in the country are individuals rather than companies, according to DL News data.
The Czech Republic ranked first with 9,372 registered VASPs. Poland ranked second with 1,067, and Lithuania ranked third with 546 registered VASPs.
Italy, France, Spain, Estonia, the Netherlands, Bulgaria and Slovenia are among the top ten countries with the largest number of cryptocurrency companies.
New EU regulations
In May, the European Union passed the Markets in Crypto-Assets Regulation (MiCA), a new set of laws designed to regulate the crypto industry. Compared to VASPs, MiCA has stricter requirements. In particular, as part of this new regulation, cryptocurrency companies will be required to choose a specific country to obtain a license.
The rules came into effect in June, along with the eighth amendment to the Directive on Administrative Cooperation (DAC8). According to the document, countries must share information. For example, if a resident of one EU country sets up a crypto wallet in another EU country.
The new rules are designed to prevent and assist money laundering. In addition, it is expected to help identify and address tax evasion.
Some of MiCA’s requirements will be implemented next year, giving companies the necessary time to adapt to the new regulations. #欧盟 Cryptocurrency companies #加密监管
