Woofun AI reports that the full implementation of the Markets in Crypto-Assets Regulation (MiCA) on July 1 is driving a significant restructuring of the European crypto landscape. The European Securities and Markets Authority mandates that unlicensed entities must withdraw from the market and facilitate user transfers to compliant platforms or self-custody solutions.

Data indicates that approximately 80% of the 3,000 Virtual Asset Service Providers operating in Europe are expected to cease operations. Consequently, over 10 million users may need to switch services. Binance has preemptively modified its European business structure, while OKX is actively attracting migrating users through incentive programs, shifting industry focus toward compliance and trust.