EU MiCA Crackdown: Over 1,700 Crypto Platforms Shut Down, Sparking Urgent User Migration and Fraud Warnings

Following the full implementation of the EU's MiCA regulations, over 1,700 unlicensed crypto platforms have been ordered to cease services. With only 323 authorized entities, up to 10 million users must migrate assets. Regulators warn of scammers exploiting the transition by impersonating officials to steal funds. Users are urged to verify platforms on the official MiCA registry.

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