As the July 1 hard deadline for full implementation arrives, the EU is undertaking major revisions to its landmark Markets in Crypto-Assets regulation (MiCA), reflecting the ongoing tension between regulatory ideals and industry reality.
The European Securities and Markets Authority has called on unauthorized crypto-asset service providers to wind down operations as the MiCA transitional period ends on July 1, marking a critical enforcement milestone for the world’s first comprehensive crypto regulatory framework.
The world’s largest crypto exchange Binance notified EU users of partial service suspension after failing to secure MiCA compliance license, marking a major clash between crypto industry and EU regulation.