Germany Leads in Cryptocurrency Adoption While the UK Lags Behind
- Germany has 89 licensed crypto-asset service providers, representing 25.5% of the European Securities and Markets Authority’s (ESMA) Markets in Crypto Assets (MiCA) register.
- In June, Germany had the highest number of MiCA authorizations in the EU, with a total of 57 authorized crypto companies.
- Deutsche Bank is awaiting regulatory approval to launch crypto custody solutions for institutional clients, with a license expected in October.
- The UK’s Financial Conduct Authority (FCA) only lifted its ban on crypto exchange-traded products less than a year ago, indicating a nascent market.
- The FCA plans to open licensing applications on September 30, with new regulations taking effect on October 25, 2027.
Germany’s strong progress in cryptocurrency adoption is evident through its significant number of licensed service providers and leading position in MiCA authorizations. In contrast, the UK’s recent regulatory developments highlight its slower pace in embracing digital assets.
With Germany’s leadership marked by over a quarter of ESMA’s registered companies being based there, it contrasts sharply with the UK’s still-developing framework for cryptocurrencies.(Source)
