OKX Europe CEO predicts 80% of crypto exchanges will fail under MiCA regulation by July deadline
By
Brian Danga
Summary
OKX Europe CEO Erald Ghoos predicts that approximately 80% of crypto exchanges will not survive Europe's Markets in Crypto-Assets (MiCA) regulation, as the European Securities and Markets Authority (ESMA) requires unlicensed firms to stop serving EU clients by July 1. MiCA, approved by the European Parliament in April 2023, establishes one of the world's first comprehensive regulatory frameworks for crypto assets, requiring crypto-asset service providers to obtain authorization from a national competent authority in an EU member state to passport services across the bloc.
Source
Twitter / XOKX Europe CEO predicts 80% of crypto exchanges will fail under MiCA regulation by July deadlinetheblock.coKey quotes
· 3 pulledOKX Europe CEO Erald Ghoos said about 80% of crypto exchanges will not survive Europe's Markets in Crypto-Assets regulation
The European Securities and Markets Authority is requiring unlicensed firms to stop serving EU clients once national transition periods expire on July 1
MiCA established one of the world's first comprehensive regulatory frameworks for crypto assets
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