Of the approximately 3,000 unlicensed cryptocurrency exchanges in Europe, about 80% face the risk of being shut down.

The EU's MiCA (Mini-Asset Regulatory Framework) for the crypto asset market will officially come into effect on July 1st, requiring crypto service providers to obtain licenses or exit the market. Reports indicate that of the approximately 3,000 unlicensed crypto trading platforms in Europe, about 80% may face closure or cease providing services to local users due to their inability to meet the requirements by the deadline. This could potentially affect over 10 million users, who may be forced to migrate to compliant platforms.