EU's MiCA Framework Takes Effect July 1; ~80% of 3,000 Unlicensed Crypto Platforms Face Shutdown

According to CoinDesk, the EU's Markets in Crypto-Assets (MiCA) framework takes effect on July 1, requiring all crypto service providers to obtain licenses or cease operations. Approximately 3,000 unlicensed crypto trading platforms operate in Europe, with roughly 80% facing potential shutdown due to inability to meet compliance deadlines before the deadline. The regulatory change could affect over 10 million users, who may be forced to migrate to compliant platforms.
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