Analyst: MiCA fraud warning rising, over 1,000 companies losing EU access

With the end of the final EU transition period on 1 July, the MiCA fraud warning has been rising, with over 1,000 unauthorized encrypted asset services turning to licensed companies or self-held wallets. In its June statement, the European Securities Markets Authority (ESMA) called for the unauthorised provider to stop receiving new customers and to restrict activities to achieve an orderly exit. The regulator also reminds clients to check the presence of the provider in the official MiCA register before transferring assets. European regulators warned that fraudsters were using these real migration information to impersonate regulators and card-holders and to direct users to false websites, wallets or platforms。