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MiCA Deadline Could Push 10M EU Crypto Users to New Platforms

AssembleAi
The EU’s July 1 MiCA deadline could leave more than 10 million crypto users seeking a new platform. ESMA warned unlicensed crypto-asset service providers to wind down operations and help customers move to authorized providers or self-hosted wallets. The EBA proposed fines of up to 12.5% of annual turnover for significant stablecoin issuers that breach MiCA. Erald Ghoos estimated that as many as 80% of Europe’s roughly 3,000 pre-MiCA VASPs may not continue after the deadline.
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