The European Banking Authority (EBA) has expressed concerns over regulatory loopholes being exploited by crypto service providers during the transition to the Markets in Crypto-Assets (MiCA) framework. The EBA warns that practices such as forum shopping and abusive reverse solicitation are undermining the integrity of the European market. Recent audits have identified compliance gaps, including inadequate identity verification and weak sanctions detection, which elevate the risks of money laundering and terrorist financing. While MiCA aims to establish a harmonized regulatory framework, its effectiveness hinges on vigilant oversight and cross-border cooperation to prevent regulatory arbitrage and ensure compliance.