AMLA Head Warns of Risks After MiCA Transition Period Ends
AMLA Chief Bruna Szego warns that mass client migration could overload the EU crypto market post-MiCA. Both departing and newly licensed VASPs face increased AML screening burdens.
AMLA (Anti-Money Laundering Authority) head Bruna Szego has warned about potential market turbulence once the transitional period of the EU's Markets in Crypto-Assets (MiCA) regulation expires.
According to Szego, a wave of companies leaving the market could trigger a surge in withdrawal requests, while newly licensed virtual asset service providers (VASPs) may see a sudden influx of users. Both scenarios will place significant strain on AML compliance checks and verification processes.
The warning highlights the regulatory challenges facing the crypto sector as the EU tightens oversight under MiCA.
Source: ForkLog