Posted 4/10/2024, 3:22:00 PM
Crypto Winter Cools Euro Transactions Despite Upcoming MiCA Regulations
- MiCA crypto regulations have not yet increased euro-denominated crypto transactions, which remain at 10%
- MiCA aims to enhance investor protection and could drive growth when implemented in 2024
- Global fiat-to-crypto volumes fell to 20% in 2023 from 30% in 2021 due to the crypto winter
- 80% of crypto on-ramp/off-ramp transactions involve USD or South Korean won; euro has a minor 10% share
- 10 exchanges process 90% of trades, with Binance accounting for almost half of volumes