[DigitalToday reporter Chi-gyu Hwang] OKX Europe Chief Executive Erald Ghoos warned that 80 percent of exchanges not authorised under MiCA regulation will not survive.

The European Securities and Markets Authority will ban unauthorised firms from serving EU customers from July 1. In an interview with The Block, Ghoos said 60 percent of European crypto users use platforms that have not received MiCA authorisation, and most of them "have no way to get authorised".

As of June 18, more than 200 crypto asset service providers are listed on the European Securities and Markets Authority's temporary register.

OKX secured MiCA authorisation through the Malta Financial Services Authority. Coinbase received authorisation through Luxembourg, and Kraken through the Central Bank of Ireland. Ripple also said it received preliminary MiCA approval from Luxembourg authorities this week.

Binance, the largest exchange, may have to halt EU services after July 1. Reuters reported that Binance's ongoing MiCA application in Greece is expected to be rejected. Binance says it meets all requirements.

Ghoos classified unlicensed exchanges into three types. They are purely offshore platforms with no legal entity in Europe, exchanges operating by using an expiring grace period, and global operators whose specific subsidiaries have MiCA authorisation but that also offer an unlicensed global app in European app stores.

Ghoos advised users to check whether a platform is authorised on the European Securities and Markets Authority's public register and move assets to an authorised exchange before July 1.