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Crypto
EU MiCA transition ends, pressure mounts on unlicensed crypto firms to halt operations
The European Union’s transition period for its Markets in Crypto-Assets regulation has ended, meaning crypto companies without authorisation can no longer legally provide services to EU customers. Such firms could face sanctions including multimillion-euro fines if they do not wind down operations. Industry and legal experts expect early enforcement to vary by member state. Compliance costs are estimated from 350,000 to 600,000 euros, and could rise to 2 million euros.
Crypto
Ripple steps closer to MiCA entry; variables remain over RLUSD issuance and service structure
Ripple has moved closer to entering the European Union\'s MiCA crypto regime after securing preliminary approval as a crypto asset service provider in Luxembourg. The approval is conditional and not a full licence. Ripple must demonstrate that its Luxembourg entity can perform each requested service, meet capital or insurance requirements and ensure EU-based staffing and decision-making. Regulators will also scrutinise governance and potential conflicts tied to RLUSD stablecoin issuance and related services.
Crypto
Poland crypto law stalled by presidential veto, local industry accelerates move abroad
Poland has failed to pass legislation implementing the EU’s MiCA crypto framework after parliament could not override a presidential veto, leaving it the last EU member without domestic adoption. The dispute centres on a crypto assets market law vetoed twice by President Karol Nawrocki, who cited burdens on small firms. Industry groups criticise the bill as overly expansive and say it gives sweeping powers to the KNF regulator. Some companies are already considering or pursuing moves abroad.