Gate Europe CEO: More MiCA-licensed crypto companies may exit the EU market
2026-07-21 12:07
Odaily News: Gate Europe CEO Giovanni Cunti stated that some crypto companies already licensed under the EU's Markets in Crypto-Assets Regulation (MiCA) may still exit the EU market due to rising compliance costs.
Cunti noted that stricter regulatory requirements make it more difficult for new entrants to compete, and some licensed companies may not be able to sustain the costs and resources required for ongoing operations under the framework in the long term.
MiCA is the EU's regulatory framework for crypto assets, and the 18-month transitional period ended on July 1. Crypto companies serving EU clients must either obtain authorization or cease providing regulated services. Binance failed to secure a MiCA license before the deadline.
Last Friday, the European Securities and Markets Authority (ESMA) added 14 crypto asset service providers (CASPs) to its register, bringing the total number of authorized companies to 294. Cunti said the number of market operators in Europe has decreased from thousands to hundreds.
Cunti noted that stricter regulatory requirements make it more difficult for new entrants to compete, and some licensed companies may not be able to sustain the costs and resources required for ongoing operations under the framework in the long term.
MiCA is the EU's regulatory framework for crypto assets, and the 18-month transitional period ended on July 1. Crypto companies serving EU clients must either obtain authorization or cease providing regulated services. Binance failed to secure a MiCA license before the deadline.
Last Friday, the European Securities and Markets Authority (ESMA) added 14 crypto asset service providers (CASPs) to its register, bringing the total number of authorized companies to 294. Cunti said the number of market operators in Europe has decreased from thousands to hundreds.
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