EU's MiCA transition period ends, unlicensed crypto firms must exit

The transition period for the European Union's Markets in Crypto-Assets (MiCA) regulation ended on July 1, Cointelegraph reported. Consequently, crypto firms without a MiCA license can no longer legally provide services to EU customers. CoinDesk previously reported that an increasing number of crypto companies were relocating to the United Arab Emirates (UAE), including Dubai, ahead of MiCA's full implementation. Meanwhile, Binance founder Changpeng Zhao (CZ) claimed that a MiCA license application in Greece had met all requirements and was on the verge of approval but was withdrawn last week due to intervention from unspecified political forces.