BitGo Provides Compliance Solutions for European Crypto Firms Ahead of MiCA Deadline
- The final deadline for crypto firms to transition to the MiCA regime is at the end of this month.
- Europe had over 3,000 registered crypto firms as of this year, with Poland having more than 1,400 registrations.
- As of May, there are currently only 194 authorized CASPs, and around 75% of pre-MiCA firms are expected to lose their registration status.
- BitGo offers compliance services with fees starting at a couple of thousand dollars per month, scaling with transaction volume.
Many crypto firms in Europe face potential closure due to the stringent requirements set by MiCA regulations as transitional periods expire. BitGo’s infrastructure aims to assist these businesses in achieving compliance without shutting down operations.
With an estimated loss of registration for about three-quarters of existing firms, the upcoming deadline emphasizes the urgency for compliance solutions like those offered by BitGo. (Source)
