The European Securities and Markets Authority requires crypto companies without this license to cease serving clients. Erald Gush, CEO of OKX Europe, noted that 60% of European cryptocurrency users utilize platforms without MiCA authorization. He emphasized that many of these platforms are unable to obtain such authorization. As of June 18, only 200 crypto asset service providers have been fully authorized under MiCA. Malta has become the preferred jurisdiction for major crypto exchanges like OKX, Crypto.com, and Gemini. However, in absolute numbers, Germany leads with 57 CASP authorizations, followed by the Netherlands with 26.