Public mirrors of the bloc’s register counted 244 licensed CASPs across 25 jurisdictions once the deadline passed. Before MiCA, roughly 3,167 firms held national crypto registrations across Europe. Measured against that base, close to 92% of the market did not make the cut. For U.S. investors, the story is not the firms that vanished. It is the short list of licensed survivors, and several of them are publicly traded.