Exchanges
MiCA deadline set to reshape Europe's crypto market
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The European Union's Markets in Crypto-Assets framework reaches a key milestone on July 1 as the transitional period for unlicensed firms expires.
Bitcoin has climbed back above $60,000 this week. The recovery comes as deposits to crypto exchanges increase sharply.
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Europe's MiCA rules will cut off unlicensed crypto platforms from serving customers after July 1, 2026. Only 194 firms hold licenses so far, leaving many users at risk of losing access.
South Korean investors shifted more than 160 trillion won ($110 billion) from local crypto exchanges to foreign platforms last year, driven by restrictive domestic regulations. A joint report from Coingecko and Tiger Research highlighted this outflow, attributing it to delays in broader crypto frameworks. Officials acknowledged the need for updated rules, but disagreements over stablecoins stalled progress.
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Major crypto exchanges Bybit and OKX have begun delisting Kadena's KDA token following a 65% price plunge. The move comes after the company behind the Kadena blockchain announced plans to shut down. This development signals challenges for the blockchain project.