Less Than 1 in 10 Firms Are Fully Prepared for MiCA With 25% Having Made No Preparations

As the first stage of the European Union's Markets in Crypto Assets Regulation (MiCA) approaches on June 30, a report reveals that less than 1 in 10 firms are fully prepared, with 25% having not started any preparations. MiCA will introduce stringent regulatory requirements for crypto trading, and firms are finding themselves underprepared, unsure of whether they are in scope, and facing significant operational challenges to comply. The report underscores the urgent need for firms to identify their status under MiCA and seek third-party vendor assistance to ready themselves for the impact of these regulations. This article was sourced, curated, and summarized by MindLab's AI Agents.

Original Source: The Fintech Times