德国颁发欧洲最多MiCA牌照，税改计划延期

Germany has become one of the leading countries in issuing licenses under the European MiCA regulatory framework. Banks play a key role in this process.

According to latest data, Germany is the country that has issued the most licenses under the EU’s Cryptocurrency Market Regulation (MiCA). It seems that banks dominate among those newly authorized to provide cryptographic services.

Germany leads in issuing licenses under MiCA in Europe.

In the third quarter of 2026, Germany granted licenses to 42 organizations, accounting for more than half of all new licenses issued across Europe during that period. FinPlanet, a digital asset management consulting and compliance company, provided these figures based on information from the German Federal Financial Supervision Authority (BaFin) and the European Securities and Markets Authority (ESMA).

A notable feature of this round of licensing is that banks make up the majority of approved entities, including several cooperative banks. According to FinPlanet’s CASP report, out of the 100 registered cryptographic asset service providers in Germany, 65 are banks. This high concentration indicates that traditional financial institutions are showing increasing interest in participating in regulated crypto markets.

Deutsche Bank, one of the world’s largest banks and financial services companies headquartered in Frankfurt, was among the last organizations to obtain its MiCA license last month. With the gradual implementation of the MiCA regime, Germany’s banking industry continues to shape the path forward for the adoption of digital assets.

In the previous quarter, German regulatory authorities granted licenses to 58 entities to operate under the MiCA framework. Additionally, 120 companies licensed in other EU countries are now eligible to provide services in Germany.

Explanation of terms: MiCA is the EU’s regulatory framework for digital assets, setting requirements regarding licensing, transparency, and oversight for enterprises operating in the digital asset industry within member states.

Progress and approval speed of MiCA regulations

The MiCA regulations aim to establish a unified legal framework for the European digital asset market. They were approved by the European Parliament in April 2023 and officially announced in June 2023. After phased implementation and a transition period, these regulations will come into full effect in EU member states on July 1, 2026.

Starting from that date, all crypto service providers operating in the European Economic Area (including Norway, Iceland, and Liechtenstein) must hold MiCA licenses. Although currently 363 entities have such licenses, the rate of new approvals has slowed down, dropping from 105 entities in the second quarter to a lower level in the third quarter of 2026.

Not all applications will be approved. Earlier this year, Germany’s financial regulatory authority, BaFin, rejected Futurum Bank AG’s application for a MiCA license. Futurum Bank AG is the operator of Bitcoin.de, a leading cryptocurrency trading platform that serves over one million users in Germany and Europe. This decision has raised concerns about the platform’s future development in a regulated market.

According to FinPlanet, Germany currently accounts for more than half of all new MiCA licenses in the region, highlighting its leading role in the development of regulated crypto markets in the EU.

There are obstacles in implementing changes to tax policies.

Germany has long provided tax benefits to crypto investors, including exemption from capital gains tax on profits from holding digital assets for more than one year. However, the federal government has proposed eliminating this tax exemption and instead proposing a 25% capital gains tax on profits from all crypto transactions, regardless of the holding period.

The draft bill proposed by the Ministry of Finance has encountered opposition within parliament. Currently, the coalition government led by Chancellor Friedrich Merz has responded to opposition from the public and ruling party members, delaying the proposed changes. This means that German crypto investors will continue to benefit from favorable tax treatments.

The delay in implementing tax changes provides temporary relief for German crypto holders, who can continue to enjoy the one-year tax exemption on profits from digital assets.