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European regulation MiCA is going to regulate cryptocurrency exchanges!
The MiCA regulation will come into effect on 01.01.2025 and many exchanges will have to react. Unfortunately, the new regulation also brings many restrictions, especially regarding what services cryptocurrency exchanges can provide within the European Union. The situation is such that the larger the exchange, the more attention European regulatory bodies will focus on it concerning compliance with the regulation.
Exchanges that have already actively reacted to the MiCA regulation include - Binance, ByBit, Coinbase, OKX.
Each exchange is trying to minimize the impact of the regulation on themselves, as they would lose money and their customers. Sooner or later, every exchange will have to apply for a MiCA license in some EU member state and will have to comply with it.
We do not know how long this process will take and what specific restrictions will come. We are in a transitional period, and only time will show us a more concrete framework of the new regulation.