The European Banking Authority (EBA) warns that some cryptocurrency companies are seeking to circumvent the new EU regulations, including MiCA and the AML/CFT framework (. The report highlights the phenomenon of “forum shopping,” where businesses apply for licenses in countries with lax regulations and then operate legally across the EU. Before MiCA is implemented, an organization has repeatedly submitted and withdrawn applications in various countries to avoid scrutiny.
The EBA stated that many companies with weak controls are still operating thanks to a transitional period until July 2026. Some entities are still using obscure ownership structures, with dozens of entities outside the EU managing them, which increases the risk of money laundering and fraud. Although MiCA aims for a transparent and unified market, the EBA notes that synchronized enforcement and preventing abuse remain significant challenges for the European Union.
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