OKX Europe Head: About 80% of Crypto Exchanges Will Not Survive Under New MiCA Regulations

Odaily Planet Daily News: Erald Ghoos, CEO of OKX Europe, stated that about 80% of cryptocurrency exchanges will not survive under Europe's Markets in Crypto-Assets Regulation (MiCA).

As the transition period ends on July 1st, the European Securities and Markets Authority requires unauthorized platforms to cease providing services to EU clients. Ghoos pointed out that currently, about 60% of European crypto users are still using platforms not authorized under MiCA, and most of these platforms have no hope of obtaining authorization. Of the 27 EU member states, 20 have already ended their transition periods. After July 1st, enterprises not listed on the registry will not be able to legally provide services within the EU. Currently, over 200 service providers have obtained full authorization. (The Block)