| Mobile Web

Search results for euro

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

JPMorgan backs U.S. Clarity Act but warns on regulatory loopholes

JPMorgan publicly backed the U.S. federal digital asset bill known as the Clarity Act, while warning that a loose regulatory framework could revive vulnerabilities that existing financial rules sought to block. In a joint article by Umar Farooq and Peter Muriungi, the bank said regulatory clarity must be paired with durable safeguards. It also flagged risks in market structure, stablecoin incentives and consumer misunderstanding, and called for stronger anti-money laundering and enforcement tools.

Crypto

Binance withdraws Greece MiCA application, seeks new EU licensing base

Binance has withdrawn its application in Greece for authorisation under the European Union’s Markets in Crypto-Assets (MiCA) rules and plans to pursue a licence in another EU member state. The move comes ahead of the July 1 end of the MiCA transition period. Binance confirmed the withdrawal on X and said it would disclose the new jurisdiction once preparations are complete. An executive told Reuters it is not leaving Europe.