MiCA Full Effect on July 1 May Force 10M EU Crypto Users Off Platforms
The EU's MiCA regulation fully applies from July 1, potentially displacing up to 10 million users from non-compliant platforms.
The European Union’s Markets in Crypto-Assets (MiCA) regulation takes full effect on July 1, 2025, a deadline that could leave an estimated 10 million crypto users across the bloc searching for a new platform, according to Alex Fazel, chief strategy officer at SwissBorg.
In comments to CoinDesk, Fazel urged users to choose platforms built to withstand tightening regulatory oversight under MiCA. The rule introduces a comprehensive framework for crypto asset service providers, requiring them to obtain a license and comply with strict anti-money laundering, consumer protection, and transparency standards.
Platforms that fail to meet MiCA’s requirements by the deadline will be forced to cease operations or restrict services to EU residents, potentially disrupting millions of accounts. The industry has been bracing for the transition as regulators ramp up enforcement.