Erald Ghoos: Approximately 80% of cryptocurrency exchanges cannot survive under MiCA

According to The Block, Erald Ghoos, CEO of OKX Europe, stated that approximately 80% of cryptocurrency exchanges are unable to survive under MiCA regulations. The European Securities and Markets Authority has required unauthorized platforms to cease providing services to EU clients, with approximately 60% of European crypto users still using platforms that are not authorized by MiCA. Twenty out of the 27 member states of the European Union have ended their transition period, and companies that were not listed in the EU registry after July 1st are unable to legally provide services in the EU. Currently, over 200 service providers have been fully authorized.