Cointelegraph reported that the transition period for the European Union (EU)'s cryptocurrency regulatory law MiCA (Markets in Crypto-Assets) ended on July 1 (local time). As a result, crypto firms that have not received MiCA authorization can no longer legally provide services to EU customers. Earlier, CoinDesk reported that an increasing number of cryptocurrency companies were relocating their bases to the United Arab Emirates (UAE), including Dubai, ahead of the full implementation of the EU's cryptocurrency regulatory law MiCA. Meanwhile, Binance founder Changpeng Zhao (CZ) claimed that “the MiCA license application pursued in Greece met all requirements and progressed to the stage just before approval, but was withdrawn last week due to the intervention of unspecified political forces.”
