Woofun AI reports that Erald Ghoos, CEO of OKX Europe, projects that approximately 80% of cryptocurrency exchanges will fail to survive the implementation of the EU's Markets in Crypto-Assets Regulation (MiCA). As the transitional period concludes on July 1, the European Securities and Markets Authority mandates that unauthorized platforms immediately cease operations for EU clients.

Currently, roughly 60% of European crypto users rely on platforms lacking MiCA authorization, many of which face insurmountable hurdles in securing compliance. Among the 27 EU member states, 20 have already terminated their transitional periods. Post-July 1, entities absent from the official registry will be barred from legally servicing the region. To date, more than 200 service providers have secured full authorization.