Europe's crypto reset: MiCA creates a single market as hundreds of firms face exit
The EU's landmark MiCA crypto rules take full effect on 1 July. Yet by May, fewer than one in five of the bloc's 1,200-plus registered crypto firms had secured the licence needed to keep serving European clients. From the start of July, the transitional window under the Markets in Crypto-Assets Regulation (MiCA) closes for good, and companies that have not secured authorisation must either stop serving European customers or wind down altogether.