Crypto Firms Exit EU Market as MiCA Regulation Takes Effect

The introduction of the new Markets in Crypto-Assets (MiCA) regulation across the European Union is causing significant changes within the crypto industry. Many companies are choosing to exit the bloc entirely, merging with other firms or relocating operations to more favorable jurisdictions. This shakeup comes as MiCA standardizes regulations across all 27 EU member states, replacing a fragmented approach with a single set of rules for businesses in the market.