EU to ban unlicensed crypto firms as MiCA takes full effect July 1

The European Union's Markets in Crypto-Assets (MiCA) regulation will take full effect on July 1, banning unlicensed crypto businesses from operating in the bloc. According to Cointelegraph, Crypto-Asset Service Providers (CASPs) that previously operated under national regulatory frameworks must now obtain a MiCA license or cease serving EU customers. The move could force some firms with pending applications to temporarily suspend their EU operations, potentially affecting millions of users. France's Financial Markets Authority (AMF) stated that 19 CASPs have received MiCA approval to date, while approximately 25 applications are still under review.