Germany has emerged as the European Union's leader in issuing MiCA (Markets in Crypto-Assets) licenses while simultaneously experiencing an exodus of crypto startups. The country has issued the most licenses under the new EU regulatory framework and operates the highest number of Bitcoin nodes of any European nation.
Major German financial institutions have embraced the crypto sector under the MiCA framework. Deutsche Bank, DZ Bank, and Commerzbank have all entered the cryptocurrency space, leveraging the new regulatory clarity to expand their digital asset offerings.