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

Odaily reported that Erald Ghoos, CEO of OKX Europe, stated that approximately 80% of cryptocurrency exchanges will not be able to survive under the European Union's Markets in Crypto-Assets (MiCA) regulation.

As the transition period ends on July 1st, the European Securities and Markets Authority (ESMA) requires unauthorized platforms to cease providing services to EU customers. Ghoos pointed out that currently, about 60% of European crypto users are still using platforms that have not obtained MiCA authorization, and most of these platforms have little hope of receiving authorization. Among the 27 EU member states, 20 have already ended the transition period. After July 1st, enterprises not listed on the official registry will not be able to legally provide services within the EU. Currently, over 200 service providers have obtained full authorization. (The Block)