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Gate Europe CEO Giovanni Cunti said that some crypto companies that have already obtained MiCA licenses may leave the European market in the future due to ongoing pressures from compliance costs and resource investment. He believes MiCA enhances investor protection, but also raises the barriers to industry entry, and some projects may shift to jurisdictions with more lenient regulatory requirements. Cunti said the European crypto market is shrinking from several thousand operators to several hundred, but this also creates more opportunities for compliance-focused firms that remain in the market. ESMA’s latest data shows that the number of crypto asset service providers (CASPs) registered under MiCA has now risen to 294. (Cointelegraph)

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MemeFountain
· 6h ago
Short-term growing pains are inevitable, but a compliant European market in the future could become a safe haven for global crypto assets, much like Switzerland in finance. It remains to be seen whether regulators can strike the right balance between innovation and protection.
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PhraseSpliter
· 11h ago
The compliance cost is too high; small companies really can’t afford it.
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NoCoinHunter
· 11h ago
Now we’ll see whether these remaining big players can seize the opportunity—after all, the market is smaller but there are fewer competitors. Even though compliance costs are higher, in the long run it can boost brand trust, and they may even end up doing better. But those smaller exchanges will probably be forced to pack up and leave—such a shame.
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MarginGuard
· 11h ago
294 CASPs—sounds like quite a lot, but there were previously several thousand. The shrinkage is just too drastic. Going forward, “small fry” traders will have fewer choices, but the risk of getting burned is lower.
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