Crypto Frauds Decrease by 51% Following MiCA Implementation

Citing a report from the Israel-based global ID information company AU10TIX, FinanceMagnates has conveyed that cryptocurrency fraud cases have decreased by 51% due to the implementation of the European Union’s MiCA (Markets in Crypto Assets) regulations. The report states, “With the strengthened regulation in the cryptocurrency market, fraud cases in this sector have decreased, while fraud cases in the payment sector have increased,” adding, “Payment sector fraud cases have seen a 56% increase, likely influenced by the rise in digital transactions in the Asia-Pacific region and the economic recovery in North America.