EU Crypto Market Enters Licensed Operating Phase as MiCA Transition Period Ends

The EU's MiCA (Markets in Crypto-Assets) transition period has come to an end, marking a significant shift for crypto service providers in the European Union. The period allowed companies that were previously operating under national regulations to adapt to the new unified framework. However, many are now facing pressure to exit the market as they have not obtained the necessary licenses.

According to the source, only around 280 companies have obtained CASP (Crypto-Asset Service Provider) authorization, a number far below the expected market size. This means that approximately 75% of existing companies will lose their operating qualifications, including well-known platforms like Binance, MEXC, and HTX.

The EU crypto market is now entering a clearer licensed operating phase, with any service provider that has not obtained MiCA permission required to cease relevant business activities. This includes stopping onboarding new clients, halting marketing efforts, and guiding existing users to withdraw assets or transfer them to licensed institutions.