BNY Subsidiary Joins EU Crypto Register as Total Hits 309

The National Bank of Belgium cleared the BNY unit on July 20 to provide crypto-asset custody and transfer services, marking a significant entry of a traditional financial heavyweight into the regulated European digital-asset space. BNY, which reported $62.6 trillion in assets under custody or administration as of June 30, joins a growing list of banks and payment processors adapting to the Markets in Crypto-Assets (MiCA) framework.

Germany accounted for the largest share of the new additions with four firms, including three cooperative banks: Raiffeisenbank Falkenstein-Wörth, Spar- und Kreditbank Rheinstetten, and VR-Bank Augsburg-Ostallgäu, alongside JT Technologies. Denmark followed with three additions, including payment infrastructure providers SafeLynx Technologies and Januar. Other entries span Bulgaria, Latvia, Cyprus, Liechtenstein, and the Netherlands.

This expansion follows the July 1 expiration of the EU’s MiCA transition period, which mandates that firms operating within the bloc must hold official CASP authorization. While the register serves as a public record of regulatory compliance, industry observers caution that authorization does not guarantee long-term viability. Gate Europe CEO Giovanni Cunti recently noted that the heavy burden of ongoing compliance, reporting, and capital requirements may prove difficult for some smaller operators to sustain in the evolving market.