MiCA Enforcement Triggers 90%-Plus EU Crypto Firm Consolidation; Tether USDT Delisted From Regulated EU Exchanges

MiCA enforcement drove consolidation of over 90% of European cryptocurrency firms as compliance costs and regulatory barriers eliminated smaller participants. Tether's USDT was delisted from regulated EU exchanges as part of the MiCA compliance wave. The EU separately extended its MiCA review consultation deadline, with staking, DeFi, and RWA potentially moving under the MiFID II framework.