The EU's MiCA Regulatory Framework Fully Enforced, 244 Crypto Asset Service Providers Successfully Registered

BlockBeats News, July 2nd. The long-awaited European cryptocurrency industry regulation reached a key milestone on Wednesday after the final transition period of the Cryptocurrency Market Regulation Act (MiCA) officially ended. One of the most comprehensive cryptocurrency asset regulatory frameworks globally has now been fully implemented. The current market focus is on how MiCA will impact users, crypto companies, and the entire market post the final transition period.

For leading industry institutions, the answer is relatively clear. Cryptocurrency exchanges that have obtained the MiCA license can operate across the entire European Union under a unified regulatory framework. On the other hand, companies without a license must gradually exit the EU market or restrict services to EU customers. However, based on cryptocurrency trading volume data, the actual impact of MiCA on most users may be relatively limited.

On the other hand, according to the temporary registration list published by the European Securities and Markets Authority (ESMA), as of last week, 244 authorized Cryptocurrency Asset Service Providers (CASP) have completed registration. Danny Sanders, Chief Commercial Officer (CCO) of Trezor, stated that prior to MiCA implementation, there were "over 3000 cryptocurrency asset service providers operating under various national regulatory systems in Europe."