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MiCA license application pursued in Greece met all requirements and progressed to the verge of approval, but it was withdrawn last week due to the intervention of unspecified political forces."
