Germany Hits 79 CASPs, 6 Cooperative Banks Added to EU Crypto Service Provider Register

Odaily News - The European Securities and Markets Authority has today updated the register of Crypto-Asset Service Providers under the Markets in Crypto-Assets Regulation, bringing the total number of authorized crypto asset service providers in the EU to 331. All 6 newly added entities are German cooperative banks, namely Raiffeisenbank Aidlingen, Ihre Volksbank, VR-Bank Mittelfranken Mitte, Volksbank Euskirchen, VR Bank Ried-Überwald, and Volksbank Backnang. Germany now has 79 authorized crypto asset service providers, while France and the Netherlands have 35 and 29, respectively. Since ranking first in the EU with 57 crypto asset service providers at the end of June, Germany's number of authorizations has continued to grow. The German Federal Financial Supervisory Authority previously stated that the country's leading number of authorizations is related to its large financial sector and the significant number of credit institutions qualified to offer crypto services, with the existing national licensing system also playing a role during the transition period, allowing some crypto asset service providers to obtain authorization through a simplified procedure. In this update, the register of asset-referenced tokens remains empty, the register of e-money tokens stays at 43 entries, and the list of non-compliant entities remains at 167 entries.