MiCA a blessing in disguise for EU crypto investors and exchanges
The EU’s MiCA regulation surprised some doubters as major crypto exchanges lined up to get licenses.
Despite initial concerns about its effect on the European crypto industry, the Markets in Crypto-Assets (MiCA) regulation is proving a benefit to crypto customers and exchanges alike.
The EU’s first regulatory package concerning cryptocurrencies has been in effect for almost 200 days, and since then, a number of prominent exchanges has set up operations on the continent.
In its first two quarters of operation, MiCA has shirked critics’ expectations that it would “destroy” the European crypto industry by overburdening exchanges with regulations and requiring users to identify themselves to stay on regulated platforms.