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Yevhenii ǀ Crypto Enthusiast
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Bearish🚨❌ 10 million crypto bums 🏠
From July 1, the MiCA (Markets in Crypto-Assets) rules enter into force in the European Union, creating real upheaval among crypto people.
What will happen?
🔻Nearly 10 million investors will be left without access to their usual platforms, as dozens of exchanges are stopping or limiting operations in the EU
🔻Experts predict that up to 80% of approximately 3,000 crypto companies (VASPs) that operated in Europe before MiCA will not be able to continue their business due to the absence of a license
🔻Fines: Regulators (EBA) propose fining major stablecoin issuers that violate the rules up to 12.5% of annual turnover
━━━━━━━━━━
What is happening right now?
🔹Binance has already started cutting down the list of services in Europe to comply with the new rules.
🔹Coinbase and OKX, on the contrary, have ramped up aggressive campaigns with bonuses for switching and deposits, trying to lure “homeless” crypto users
━━━━━━━━━━
Experts compare the current situation with the delisting of operators without warning👮♀️🏠
‼️Disclaimer: don’t choose a platform only because of temporary bonuses.
It’s better if your “home” is built with regulation in mind, has local reputation, and a reliable security system.
⚠️ So what should you do?
If your platform does not have a MiCA license, European regulators are going to force withdrawals in advance to authorized services or self-custody wallets.
#Regulation #homeless #MiCA
From July 1, the MiCA (Markets in Crypto-Assets) rules enter into force in the European Union, creating real upheaval among crypto people.
What will happen?
🔻Nearly 10 million investors will be left without access to their usual platforms, as dozens of exchanges are stopping or limiting operations in the EU
🔻Experts predict that up to 80% of approximately 3,000 crypto companies (VASPs) that operated in Europe before MiCA will not be able to continue their business due to the absence of a license
🔻Fines: Regulators (EBA) propose fining major stablecoin issuers that violate the rules up to 12.5% of annual turnover
━━━━━━━━━━
What is happening right now?
🔹Binance has already started cutting down the list of services in Europe to comply with the new rules.
🔹Coinbase and OKX, on the contrary, have ramped up aggressive campaigns with bonuses for switching and deposits, trying to lure “homeless” crypto users
━━━━━━━━━━
Experts compare the current situation with the delisting of operators without warning👮♀️🏠
‼️Disclaimer: don’t choose a platform only because of temporary bonuses.
It’s better if your “home” is built with regulation in mind, has local reputation, and a reliable security system.
⚠️ So what should you do?
If your platform does not have a MiCA license, European regulators are going to force withdrawals in advance to authorized services or self-custody wallets.
#Regulation #homeless #MiCA
Disclaimer: Includes third-party opinions. No advice. Binance AI may be used without guarantee. See T&Cs.