Industry leaders agree regulation is here to stay but disagree over whether MiCA protects consumers, rewards transparency or favors the biggest firms.

European regulator ESMA called on unauthorized crypto-asset service providers to wind down their businesses in an orderly manner as the MiCA transitional period ends on July 1.

MiCA authorization data shows uneven rollout across EU and EEA jurisdictions with Germany leading approvals and five member states yet to issue licenses.