I noticed an interesting development in Europe's regulatory environment. The EBA has finally closed the loophole for crypto companies that previously operated in the gray area thanks to a temporary exemption. Now, service providers with crypto assets must either obtain a proper license or exit the market.

The point is, if CASPs are involved in payments or electronic money token transfers, they can no longer simply operate as before. They need either a payment institution license or an electronic money institution license under the Payment Services Directive. This is a serious step — essentially, the EBA is bringing crypto companies under standard supervision.

What will happen next? Those who have already received approval can continue working smoothly. For those with pending applications, they've been given the opportunity to continue but with restrictions: no new clients, marketing is prohibited, only current activities. And those who haven't taken any action must immediately cease payment services.

An interesting point: over a hundred CASPs have already submitted applications or are seriously interested in licensing. This shows that crypto companies are ready to adapt to the new payment service rules. Europe is clearly moving toward stricter regulation of crypto assets, and this is just the beginning.