The European Union is accelerating the granting of authorizations under the framework for crypto-asset markets, and several companies are taking a step forward with the MiCA license as a key to operating in a harmonized manner in the 30 countries of the European Economic Area.
In the last days, AMINA EU Zerohash and [unclear] have announced significant regulatory progress in Austria and the Netherlands, respectively, while the industry discusses technical adjustments to avoid duplication with payments regulations. The focus is on the balance between investor protectioninnovation and legal clarity at the community level.
What is the MiCA license and what does it authorize?
MiCA establishes a single regime for Crypto Asset Service Providers (CASPs) and issuers of certain tokens, including electronic money tokens. Having the MiCA license It allows the European “passport”, that is, to provide services such as custody, negotiation or management throughout the EEA with a single national authorization.
The framework requires requirements for corporate governanceThis includes safeguarding assets, providing customer information, and implementing risk controls. For financial institutions and fintechs, this facilitates the integration of crypto solutions under consistent rules, reducing the friction of multiple local regulations.
Austria as a gateway: the AMINA EU case
AMINA has received the green light from the Austrian Financial Market Authority (FMA) to operate under MiCA through its entity AMINA [Austria] AGThe authorization opens the door to trading, custody, portfolio management and staking services aimed at professional investors, such as family offices, companies and financial institutions.
The Swiss bank, formerly known as SEBA Bank, already held a banking license from FINMA and crypto permits in Hong Kong and Abu Dhabi. Their management emphasizes their focus on regulated banking for digital assets and tokenization, highlighting the FMA's high supervisory standards. Austria is consolidating its role as a hub, with firms such as Bitpanda and Bybit under its umbrella, while its regulator has aligned itself with authorities in France and Italy in calling for greater rigor in the implementation of MiCA.
The Netherlands registers Zerohash as a CASP
Zerohash Europe has obtained a license from AFM Dutch, becoming registered as a Crypto Asset Service Provider (CASP). This allows the company to offer crypto and stablecoin infrastructure to banks, fintechs, and payment platforms across the EEA, positioning itself as spine for tokenized use cases and custody and transfer services.
For entities that want to integrate payments and treasury with stablecoins, working with providers with MiCA license It simplifies compliance and speeds up production deployment. Even so, challenges remain: compliance costs and operational requirements can weigh more heavily on SMEs than on large industry players.
Overlap with PSD2: Warnings and Solutions
The regulatory discussion focuses on the overlap between MiCA and PSD2According to Patrick Hansen (Circle), current European Banking Authority guidelines could lead to electronic money token providers needing dual authorization from March 2026: CASP authorization under MiCA and payment services authorization for activities of custody and transfer identical.
The risk is that some operators will reduce their offerings or withdraw from certain services, slowing down adoption. stablecoins in eurosAmong the proposed solutions are extending the transition period at least until 2027 and adjusting PSD3 regulations to exclude duplication or explicitly referencing the scope of MiCA, reinforcing the simplicity and uniformity of the framework.
What signals to watch for in the European market
While the details are being finalized, more companies are obtaining MiCA permits and registrations, as is the case with Gate Technology in Malta. The trend points to greater professionalization of the ecosystem and increased interoperability between regulated infrastructures and services in the EU.
For Spain and the rest of Europe, the MiCA passport facilitates collaboration with authorized CASP from any Member State, without replicating processes country by country. With a focus on consumer protection and transparency, the industry is moving towards clearer standards that, if well coordinated with payments regulations, could remove barriers to innovation.
The European crypto asset landscape is entering a phase of maturity: the MiCA licenses (AMINA, Zerohash) and also regulatory scrutiny to avoid overlaps. The key will be combining legal certainty and competitiveness, allowing the best-capitalized players and SMEs to find a viable place in the new landscape.