EU watchdogs warn scammers are posing as crypto firms and regulators after MiCA deadline: FT

What happened

EU regulators warned that scammers are pretending to be crypto firms and regulators after the MiCA deadline, and any crypto company that does not obtain MiCA authorization by July 1 must either wind down or limit its services to EU customers.

Confirmed

Global impact / market context

The warning highlights fraud risk for investors and shows that firms must meet the new EU crypto rules or lose market access, which could raise compliance costs and shrink the pool of available crypto services in Europe.

Confirmed

MiCA (Markets in Crypto‑Assets) is the EU’s first comprehensive crypto regulation, requiring firms to be authorized before offering services. The July 1 deadline creates a clear cut‑off, forcing firms to decide quickly whether to comply or exit the EU market.

Confirmed

What to watch

1. Number of crypto firms that successfully obtain MiCA authorization before the deadline, indicating how quickly the industry can adapt to the new regulatory framework. Analyst inference
2. Incidents of fraud or impersonation targeting EU investors, which would signal whether the watchdog warnings are effective at deterring scammers. Analyst inference
3. Changes in the availability of crypto services for EU customers, such as reduced product offerings, that could affect user adoption and trading volumes. Analyst inference

Affected assets

• FT — Flying Tulip
• DEFI — DeFi

Evidence

• theblock.co