MiCA Phase 2 Hits 3,000+ EU Crypto Firms: How Europe's Stablecoin Yield Ban Is Splitting the Transatlantic Regulatory Landscape
By July 1, 2026, every crypto business operating in Europe must hold a MiCA license or shut its doors. With 102 firms authorized and thousands still scrambling, the EU's Markets in Crypto-Assets regulation is redrawing the global map of digital finance — and its ban on stablecoin yield is opening a philosophical rift with Washington that could shape crypto's next decade.