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Cyprus-based crypto firms now face stricter compliance obligations as the EU's MiCA regulation reaches full implementation, according to reporting by Kathimerini.com.cy.
New data shows that 70% of crypto withdrawals made by EU users went directly to self-custody wallets, signaling a strong preference for personal asset control.
Europe's markets regulator is telling crypto firms that missed the MiCA authorisation deadline to stop offering services to EU customers and begin winding down operations.
Europe's MiCA regulation is expected to force smaller crypto applications to migrate onto licensed custody infrastructure as compliance deadlines approach.
The European Union has prohibited regulated crypto firms from handling privacy coins while keeping self-hosted Bitcoin wallet transfers free from identity verification requirements.
BNB slid close to 5% as traders reacted to regulatory uncertainty in the European Union ahead of the approaching MiCA implementation deadline.
Irish authorities have flagged cryptocurrency as one of the most significant threats in the country's latest anti-money laundering assessment, signaling tighter scrutiny ahead.
