According to a report by Cointelegraph, a Coinbase executive, Rob Witoff, said that currently 95% to 100% of code is written or assisted by large language models, up from 40% earlier this February. Coinbase laid off 700 people in May this year, and CEO Brian Armstrong said that AI has changed the pace of work. Bruna Szego, chair of the EU anti–money laundering authority AMLA, warned that after the MiCA transition period ends on July 1, the concentration of users shifting over will intensify compliance pressure on virtual asset service providers, and licensed institutions will face new challenges in onboarding users.