About 80% of the roughly 3,000 unlicensed crypto trading platforms in Europe face closure risk

The EU's crypto asset market regulatory framework MiCA will officially take effect on July 1, requiring crypto service providers to obtain a license or exit the market. Reports indicate that about 80% of the roughly 3,000 unlicensed crypto trading platforms in Europe may face closure risk due to inability to meet requirements before the deadline, or cease providing services to local users, potentially affecting over 10 million users, who may be forced to migrate to compliant platforms.