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

Odaily Planet Daily News OKX Europe CEO Erald Ghoos stated that about 80% of cryptocurrency exchanges will not be able to survive under the European Crypto Asset Market Regulation MiCA.

As the transition period ends on July 1, the European Securities and Markets Authority requires unauthorized platforms to stop providing services to EU clients. Ghoos pointed out that currently, about 60% of European crypto users are still using platforms not authorized by MiCA, and most platforms have no hope of obtaining authorization. 20 of the 27 EU member states have ended the transition period, and after July 1, companies not listed in the registry will not be able to legally provide services in the EU. Currently, more than 200 service providers have received full authorization. (The Block)