Europe's Post-MiCA Reshuffle: Two Data Points, One Confused Market

Roughly 80% of the more than 1,200 firms previously registered under national crypto rules failed to secure a Crypto-Asset Service Provider licence before the MiCA transitional window closed on July 1, 2026.

Two weeks later, the first post-MiCA data is beginning to emerge. It offers an early picture of where users may be moving, and how little many of them know about the regulatory changes.

Volume is Moving Toward Licensed Platforms, OKX Says

OKX reported a 158% increase in EU app downloads in the 12 days following June 24, when Binance withdrew its MiCA licence application in Greece and confirmed it would stop serving EU clients without authorisation from July 1.

The growth was more than double the 70% average OKX said it tracked across ten MiCA-licensed exchanges over the same period, citing Sensor Tower data. Inflows from Binance users grew by more than 830% compared with the preceding 12 days, according to the exchange.

OKX has held a full MiCA licence since January 2025. The figures come from OKX and describe activity on its own platform. No independent, market-wide breakdown of post-MiCA user flows is yet available.

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