As the EU MiCA rolls out and the UK’s crypto regulatory framework nears completion, Europe’s crypto industry may enter a phase of mergers and consolidation. Tight compliance requirements, capital needs, customer-asset segregation, and operational standards could make it difficult for small and mid-sized crypto companies to independently bear long-term regulatory costs, thereby driving them to merge with traditional financial institutions, be acquired, or seek partnerships. Sygnum Europe CEO Simon Schneider said that, currently, fewer than 20% of banks in Europe provide crypto services, and the market remains severely underserved; with regulatory certainty increasing, more assets and businesses may move to regulated entities. (CoinDesk)