On July 1, 2026, Mica (Crypto Asset Markets) regulation has come into full force; This means that digital asset platforms that were unable to apply or comply were forced to halt services to European users. OKXA US-based company that offers a MiCA-approved crypto platform in Europe has reported in recent months that MiCA is helping its registered users switch to approved providers.
Since April, cryptocurrency deposits to OKX Europe from non-MiCA-licensed platforms have increased by 5.5 times, according to OKX. At the same time, there was a 158% increase in application downloads.
According to Coinmarketcap, OKX is among the top five crypto exchanges.
The company also shared the proof-of-reserve report, which uses zk-STARK cryptography, which they say is indicative of the platform’s durability:
- A total of $23,122,555,086 across BTC, ETH, USDT and USDC
- BTC: $8,625,966,590 (105% reserve rate)
- ETH: $3,187,525,086 (103% reserve rate)
- USDT: $9,776,273,021 (112% reserve rate)
- USDC: $1,532,790,389 (101% reserve rate)
Erald Ghoos, CEO of OKX Europe, says regulatory standards like MiCA are needed to create standards that increase user trust.
“Users no longer want to rely on words; they want cryptographic proof. The combination of solid regulatory compliance and seamless proof of reserves is expected to become the undisputed standard for digital asset platforms.”
