European financial regulators are warning of a surge in cryptocurrency scams following the July 1, 2024 deadline for MiCA compliance. Fraudsters are impersonating crypto firms still awaiting authorization as well as official regulators to extract funds from investors. Crypto companies that failed to secure MiCA authorization by this deadline must wind down operations or restrict services to clients within the European Union. Regulators are urging investors to remain vigilant against these emerging fraudulent practices.
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