Germany widens MiCA lead as latest EU register update adds 6 banks

Germany's widening MiCA lead reflects a regulatory-arbitrage dynamic: banks and CASPs are gravitating toward the jurisdiction with the clearest, most established authorization pipeline, not necessarily the largest market. That matters for the bloc's stated goal of supervisory convergence — a single license is only as useful as the consistency of the regimes behind it. Whether other member states can close the gap, or whether Germany's concentration becomes a de facto hub-and-spoke system for EU crypto, is the open question.