The grace period of the Markets in Crypto Assets (MiCA) regulation is about to end this month. It means that only those who have secured formal authorization asThe grace period of the Markets in Crypto Assets (MiCA) regulation is about to end this month. It means that only those who have secured formal authorization as

MiCA Will Prune 80% Of Crypto Exchanges In The European Market

2026/06/24 02:35
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  • OKX Europe CEO Erald Ghoos said 80% of crypto exchanges in Europe are at risk of closing shop as the MiCA grace period ends this June.

The grace period of the Markets in Crypto Assets (MiCA) regulation is about to end this month. It means that only those who have secured formal authorization as a Crypto-Asset Service Provider (CASP) will retain the right to operate within the jurisdiction.

According to Erald Ghoos, CEO of OKX Europe, only a few crypto exchanges will survive in Europe’s new digital asset landscape by next month.

Countdown to the Crypto Exchange Purge in Europe

The latest tally reveals that around 200 companies obtained MiCA authorization. The numbers are a small fraction of over 3,000 crypto companies that registered for the new digital asset regime in 2024.

Tether notably opted out of registering with MiCA, citing its restrictive regulatory approach as the reason for its decision. Meanwhile, Binance faces uncertainty in its application through Greece’s Hellenic Capital Market Commission (HCMC).

OKX is one of the few hundred crypto companies that successfully obtained a CASP license, enabling it to operate in the EEA under MiCA’s passporting rules. It secured authorization from the Malta Financial Services Authority (MFSA), under which it has held a Virtual Asset Service Provider (VASP) registration since November 2021.

In an interview with The Block, Ghoos gave his bleak projection on the future of crypto in Europe. He claimed that 80% of crypto exchanges in the region will not survive MiCA.

EU Not Prepared for MiCA

Ghoos admitted that the market is not yet fully prepared for the upcoming deadline, and many firms have “no path of getting one.” Additionally, he estimated that roughly 60% of crypto users in Europe are on platforms at risk of getting the boot when MiCA’s grace period ends.

The OKX Europe CEO also highlighted that 20 of the 27 EU member states have passed their national transitional deadlines. He indicated that only firms registered with the European Securities and Markets Authority (ESMA) can continue their operations. Hence, it remains to be seen how the regulator will deal with the influx of unlicensed exchanges under its watch.

OKX’s MiCA license will enable it to continue offering its products and services to over 400 million people across Europe as demand scales with rising institutional crypto adoption. Its platform currently offers access to over 240 crypto assets and 260 trading pairs, including 61 euro-crypto pairs.

The post MiCA Will Prune 80% Of Crypto Exchanges In The European Market appeared first on Blockzeit.

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