Out of 3,000 crypto companies operating in Europe under national regimes, only 244 managed to obtain a license. Germany (57), France (26), and the Netherlands (26) together issued 45% of all licenses. Meanwhile, Hungary, Poland, Portugal, and Romania did not register any companies. Greece, which denied Binance, also did not issue any MiCA licenses. Crypto companies with licenses will be able to operate throughout the EU under a unified regulatory regime. However, the remaining crypto firms are required to scale down their operations or limit services to EU clients. The absence of Binance is not expected to have a significant impact. According to Kaiko, as of June 2026, exchanges with MiCA licenses account for 83% of the trading volume in Europe.