币界网报道：Crypto exchanges operating in the European Union will face stricter regulations starting in 2025 under the EU’s new Markets in Crypto-Assets (MiCA) framework. The rules, approved by the European Parliament in April 2023, aim to enhance consumer protection, market integrity, and financial stability by imposing standardized requirements on digital asset service providers. Key provisions include mandatory licensing for exchanges, stricter anti-money laundering (AML) protocols, and enhanced transparency for stablecoin issuers. Exchanges must comply with capital requirements, secure custody solutions, and disclose detailed risk assessments to regulators. Non-compliant firms risk penalties or operational bans. The phased implementation begins with stablecoin rules in mid-2024, followed by broader exchange regulations by 2025. Industry leaders like Binance and Coinbase have signaled readiness to adapt, though smaller platforms may struggle with compliance costs. The EU’s move aligns with global efforts to regulate crypto, contrasting with the U.S.’s fragmented approach. Analysts predict MiCA could set a benchmark for other jurisdictions while potentially driving consolidation as smaller players exit or merge. Critics argue the rules may stifle innovation, but proponents emphasize the need for investor safeguards in a volatile market. The European Securities and Markets Authority (ESMA) will oversee enforcement, collaborating with national regulators to ensure uniform adoption.