The transition period under MiCA, the European Union’s comprehensive regulation for the virtual currency market, ended today. Under the new regulations, crypto exchanges wishing to operate in Europe will need to obtain the necessary licenses and regulatory approvals.
As this process is underway, exchanges that are not approved by MiCA are reportedly starting to suspend some of the services they offer to users in Europe. Platforms like Binance, which have not yet completed the licensing process, could also impose service restrictions on their millions of users in Europe.
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Exchanges that are MiCA approved and can operate in compliance with European regulations include the following platforms:
Coinbase, Crypto.com, Gate, OKX, Kraken, Bitstamp, Bybit, Backpack, Bitvavo, Bit2Me, Revolut, Bitpanda, Blockchain.com, Robinhood, eToro, Swissquote, MoonPay, Strike.
The MiCA regulation will bring licensing activities, user protection, transparency and oversight to the forefront of the European cryptocurrency market. The introduction of this regulatory framework is expected to strengthen the position of licensed platforms in the European market, while reducing the scope of activities of unlicensed exchanges in the region.
*This is not investment advice.
