DATA & FIGURES
BTC is down 1.19% to $65,551.52, CD20 is down 0.90% to $1,797.37, and ETH is up 0.86% to $1,788.58. The combined exchange volumes fell 3.45% to $4.41T in May, the lowest since September 2024, while RWA perpetual futures volumes rose 10.4% to a new all-time high.
THE SCENARIO
The MiCA regime is set to force some crypto firms to close down their businesses, with industry estimates suggesting that Europe had more than 3,000 registered crypto firms as of 2024. As of May 2026, there are 194 authorized CASPs, and it is expected that around 75% of the pre-MiCA population will lose registration status as transitional periods expire.
DIRECT QUOTE
"All of your clients can be onboarded and have sub-accounts inside of BitGo. Now, they are your clients: you help them with support, you help them with all of the products, you do all that stuff, we don't do any of that. But they are now in segregated safe storage that's MICA-compliant. You can now go about your business." — Mike Belshe, CEO, BitGo
BBN INSIGHT
The offer by BitGo to provide a compliance lifeline to EU crypto firms is a significant move, given the looming deadline for MiCA compliance. With the crypto market experiencing significant fluctuations, this move could provide some stability to the market.
MARKET REACTION
The crypto market has reacted to the news with BTC down 1.19% to $65,551.52, CD20 down 0.90% to $1,797.37, and ETH up 0.86% to $1,788.58.