Svmuu News: Erald Ghoos, CEO of OKX Europe, stated that approximately 80% of cryptocurrency exchanges will not be able to survive under MiCA, the European regulation governing the crypto-asset market.
With the transition period ending on July 1, the European Securities and Markets Authority (ESMA) has required unlicensed platforms to cease providing services to EU customers. Ghoos noted that currently, about 60% of European crypto users are still using platforms that are not MiCA-licensed, and most of these platforms have little hope of obtaining authorization. Twenty of the EU’s 27 member states have already concluded their transition periods, and entities not listed on the registry after July 1 will be unable to legally provide services in the EU. Currently, over 200 service providers have received full authorization. (The Block)