The EU MiCA regulatory new rules have fully taken effect, with 244 crypto-asset service providers registered.

BlockBeats news, July 2—Europe’s multi-year regulatory efforts for the crypto industry reached a key milestone on Wednesday, as the final transition period of the Markets in Crypto-Assets Regulation (MiCA) officially ended, bringing one of the world’s most comprehensive crypto asset regulatory frameworks fully into effect. At present, market attention has shifted to how the end of MiCA’s final transition period will affect users, crypto companies, and the broader market.

For leading industry institutions, the answer is relatively straightforward. Crypto trading platforms that have obtained MiCA licenses can operate across the entire EU under a unified regulatory framework; companies that have not obtained licenses must gradually withdraw from the EU market or limit services to EU clients. However, based on crypto trading volume data, MiCA’s actual impact on most users may be relatively limited.

On the other hand, according to the MiCA interim registration list released by the European Securities and Markets Authority (ESMA), as of last week, 244 authorized crypto asset service providers (CASPs) had completed registration. Trezor’s Chief Commercial Officer (CCO) Danny Sanders said that before MiCA was implemented, “the number of crypto asset service providers operating under regulatory systems in European countries exceeded 3,000.”