MiCA launched in 2025, establishing a comprehensive licensing and compliance framework for crypto assets within the EU. Crypto platforms must register and secure licenses while adhering to strict KYC and AML obligations. Key changes include transparency standards for stablecoins, with a specific ban on non-compliant tokens like USDT. The regulation significantly impacts crypto gambling, which generated $81.4 billion in global GGR in 2024, highlighting a 340% rise in average deposits. By April 2025, only 17 licenses were granted, with many service providers expected to exit due to compliance challenges.
MiCA mandates that all crypto platforms in the EU must register and obtain a license, along with enforcing strict KYC and AML protocols for CASPs.
The MiCA regulation introduced significant transparency standards for stablecoins and enforced a ban on non-compliant tokens, specifically targeting USDT.
Crypto gambling has experienced explosive growth, with a $81.4 billion global gross gaming revenue in 2024, demonstrating a shift in user spending behavior toward crypto-based platforms.
By April 2025, only 17 CASP licenses had been issued in the EU, with an anticipated exit of 75% of crypto service providers failing to secure licenses.
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