Luxembourg’s financial regulator granted Ripple a full Crypto Asset Service Provider (CASP) licence on July 6, 2026, completing a dual-licence stack that lets the San Francisco-based blockchain payments company operate across all 30 European Economic Area countries without going through a separate national approval process in each one. The authorisation arrived five days after the EU’s Markets in Crypto-Assets (MiCA) regulation closed its 18-month transitional window on July 1 — and in doing so, formally completed a market restructuring that cut the EU crypto field from roughly 1,200 formerly-registered firms to 283 fully licensed ones. That 83% attrition is not primarily a compliance story. It is the emergence of a small,…