A significant development has occurred for the crypto sector. The European Banking Authority has officially lifted the temporary exemption under PSD2 recently, and this situation appears to have serious implications for the industry.

Looking at the details of this change discussed in recent months, it turns out that crypto service providers dealing with electronic money tokens are now required to obtain a PSD2 license. In other words, companies involved in payment transactions must operate under these new regulations. Those with licenses can continue without issues, while those in the application process face significant restrictions.

The interesting part is that companies in the application phase are allowed to continue operating with restrictions such as not being able to acquire new customers or conduct marketing. Companies that are not PSD2 compliant must completely cease their payment services. It is known that over 100 crypto asset service providers have applied for or requested information about a PSD2 license.

This development shows how serious Europe's regulatory approach to the crypto industry is. When compliance with standards like PSD2 becomes mandatory, market players are restructuring. This new era will likely be critical especially for companies involved in payment and transfer services.