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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.