EU Crypto Traders Face Uncertainty Ahead of MiCA Regulation

More than 10 million EU users may be forced to seek new crypto trading platforms as a temporary operating grace period under the bloc's Markets in Crypto-Assets regulation, or MiCA, comes to an end. SwissBorg warns that when a platform cuts back services, users are left to absorb the disruption themselves.

Alex Fazel, chief partnerships officer at SwissBorg, said this is like tenants being forced out by a landlord without notice. He pointed out recent deposit and transfer incentives from Coinbase and OKX aimed at attracting new users.

Fazel emphasized that when choosing a platform, users should consider not only price but also the platform itself, its culture, security, features they will actually use, and community. Incentives may disappear, he added, but a trustworthy platform does not.