homeless

🚨❌ 10 million crypto bums 🏠

From July 1, the MiCA (Markets in Crypto-Assets) rules enter into force in the European Union, creating real upheaval among crypto people.

What will happen?

🔻Nearly 10 million investors will be left without access to their usual platforms, as dozens of exchanges are stopping or limiting operations in the EU

🔻Experts predict that up to 80% of approximately 3,000 crypto companies (VASPs) that operated in Europe before MiCA will not be able to continue their business due to the absence of a license

🔻Fines: Regulators (EBA) propose fining major stablecoin issuers that violate the rules up to 12.5% of annual turnover
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What is happening right now?

🔹Binance has already started cutting down the list of services in Europe to comply with the new rules.

🔹Coinbase and OKX, on the contrary, have ramped up aggressive campaigns with bonuses for switching and deposits, trying to lure “homeless” crypto users
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Experts compare the current situation with the delisting of operators without warning👮‍♀️🏠

‼️Disclaimer: don’t choose a platform only because of temporary bonuses.
It’s better if your “home” is built with regulation in mind, has local reputation, and a reliable security system.

⚠️ So what should you do?
If your platform does not have a MiCA license, European regulators are going to force withdrawals in advance to authorized services or self-custody wallets.

#Regulation #homeless #MiCA

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