MiCA Regulation Sparks Exodus: Over 80% of European Exchanges at Risk

The European Union's MiCA crypto regulation is set to have far-reaching consequences for the continent's cryptocurrency exchanges. With the deadline for full application of the regulation fast approaching, it appears that more than 80% of current exchanges operating in Europe risk disappearing from the market.

OKX Europe, one of the few exchanges to obtain a MiCA license, is preparing for this shift by offering deposit bonuses of up to 8% to users who transfer their assets from unlicensed exchanges. This promotion applies to deposits made via various methods, including SEPA transfers, credit and debit cards, Apple Pay, Google Pay, and on-chain crypto transfers.

The MiCA regulation requires all companies offering crypto services in the EU to be duly authorized by July 1, 2026. As of now, only about 200 out of an estimated 1,100 to 1,300 exchanges have obtained this authorization. European authorities are urging unauthorized companies to facilitate an orderly exit and transfer of users' assets to compliant platforms.