On May 19, according to Cryptonews, German financial regulator BaFin has granted a complete Crypto Asset Market Regulation Act (MiCA) license to Trade Republic, one of Europe's largest financial technology companies. The license allows the German company to provide crypto asset custody services to its 4 million users in 17 markets and to operate in all 30 European Economic Area countries. Data shows that currently 25 crypto asset service providers (CASPs) within the EU have obtained MiCA licenses, of which 9 (accounting for 36%) are issued by German regulator BaFin. It is worth noting that all crypto asset service providers must obtain MiCA licenses before mid-2025, otherwise they will not be able to carry out cross-border business in the EU. Many companies in the industry are accelerating their applications.