Up to 80% of Europe's crypto firms face closure as MiCA deadline hits

Only 244 firms have obtained MiCA licenses out of over 3,000 pre-MiCA registered crypto providers in Europe. The July 1 deadline could wipe out 80% of the market, OKX Europe's CEO estimates.

• Poland alone accounted for over 1,400 pre-MiCA registrations; only 244 firms are now MiCA-authorized.
• OKX Europe CEO Erald Ghoos says 80% of crypto players won't survive due to the 'width and heaviness' of regulatory burden.
• Some firms have asked OKX to acquire them because they cannot afford compliance costs.
• ESMA called on unauthorized firms to wind down in an orderly manner and safeguard client interests.

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