Cryptocurrency fraud dropped by more than 50% after the implementation of MiCA, and the focus of crime shifted to the payment field

Data shows that the number of fraud attacks in the cryptocurrency space dropped by 51% due to the implementation of the Market in Crypto-Assets (MiCA) regulations. Israel-based global identity intelligence company AU10TIX recently released its Global Identity Report for the third quarter of 2023, which delves into the impact of MiCA, highlighting enhanced investor protections. The report reveals how a regulatory crackdown in the crypto space is shifting fraudulent activity into the payments space. Instead, the report details a surge in fraudulent activity in the payments space, up 56%, driven by factors such as increased digital transaction volumes in Asia Pacific and a recovering North American economy. (finance magnates)