Gate Europe CEO: More MiCA-licensed Crypto Firms May Exit the EU Market
2026-07-21 12:07
Odaily Planet Daily News: Gate Europe CEO Giovanni Cunti stated that some crypto companies that have obtained licenses 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 this framework in the long term.
MiCA is the EU's regulatory framework for crypto assets. The 18-month transition period ended on July 1, and crypto companies serving EU customers must either obtain authorization or cease providing regulated services. Binance failed to obtain its 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 that 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 this framework in the long term.
MiCA is the EU's regulatory framework for crypto assets. The 18-month transition period ended on July 1, and crypto companies serving EU customers must either obtain authorization or cease providing regulated services. Binance failed to obtain its 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 that the number of market operators in Europe has decreased from thousands to hundreds.
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