MiCA fully landed: over 1,700 unlicensed encryption platform level Stop

On 17 August, after the full implementation of the EU MiCA on 1 July, over 1,700 unlicensed encryption platforms were asked to stop providing services to EU users, while at that time only 323 companies were authorized by the effective MiCA, with up to 10 million users requiring the relocation of assets. According to the regulator, this transition period is being used by fraudsters who induce users to transfer funds to false platforms by impersonating regulators or holding exchanges, falsifying relocation notices and documents. The French AMF, European ESMA, Dutch AFM and Austrian FMA have all issued warnings about the fraud and advised users to verify the inclusion of specific service entities in the official MiCA register before transferring assets。