Odaily Planet Daily reports that since the implementation of MiCA licensing rules, multiple EU regulatory agencies have observed an increase in imitation scams, with criminals impersonating financial regulators and crypto companies to target customers of crypto service providers that have not obtained EU authorization, using fake websites and forged documents to induce asset transfers. Stéphane Pontoizeau, an official at France’s Autorité des Marchés Financiers (AMF), stated that the AMF has encountered cases where fraudsters impersonate its representatives and direct users to transfer assets via fake websites. The European Securities and Markets Authority (ESMA) noted that fraudsters have abused its identity and branding, including the use of forged documents. As of July 1, companies must obtain authorization under the Markets in Crypto-Assets Regulation (MiCA); unapproved firms are required to cease or transfer their EU operations. An updated list released by ESMA at the end of July shows that only 323 crypto companies have been granted licenses; data provider VASPnet previously estimated that over 1,700 unlicensed companies must shut down.
EU regulators warn of fake scams during the MiCA license transition.
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Summary
EU regulators have issued warnings about imitation fraud associated with the implementation of cryptocurrency regulations under the MiCA licensing framework. Fraudsters are using fake websites and forged documents to impersonate financial regulators and crypto firms, targeting users of unlicensed platforms. AMF official Stéphane Pontoizeau confirmed cases in which scammers posed as AMF staff to redirect users to phishing sites. ESMA also reported unauthorized use of its identity and logos. As of July 1, all firms must comply with MiCA to operate in the EU, with over 1,700 unlicensed entities expected to shut down. As of late July, only 323 firms had obtained licenses. News surrounding real-world assets (RWA) remains closely monitored amid regulatory changes.
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