OKX Europe Head: Around 80% of Cryptocurrency Exchanges Will Not Survive Under New MiCA Regulations

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

As the transitional period ends on July 1, the European Securities and Markets Authority 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 not authorized under MiCA, and most of these platforms have no hope of obtaining authorization. Among the 27 EU member states, 20 have already ended their transitional periods. After July 1, enterprises not listed in the registry will be unable to legally provide services within the EU. Currently, over 200 service providers have received full authorization. (The Block)