Crypto massacre in the EU. Regulations Mica (MarketsSome were awarded as “progress in sight of cryptocurrencies” in the European Union. But could well become an unsurpassed obstacleEspecially for small businesses and startups in the sector Bitcoin (BTC). According to recent analysis until 75% Providers of services on digital assets (Written) recorded before 2025 may be forced to stop their activities Or go to exile Due to the requirements for compliance with the regulations imposed by MIDA.
- The regulation of the mica could become an insurmountable obstacle to the smallest companies in the Bitcoin sector.
- Up to 75% written could soon terminate its activities due to the requirements (and costs) to comply with the regulations.
Example of Estonia: a warning that the EU has not listened to
As reported by Caintelegraph, since 2017,Estonia was one of the first countries of the European Union to introduce a process license For the company crypto. There was a license at that time Relatively simple and fastWithout a requirement for physical presence, share capital or robust AML/KYC systems.
However, with the adoption of new regulations similar to Sica in 2019, most of the companies released could not satisfy to new standards and they lost their license. Today, Estonia has only forty licensed cryptos.
This scenario could be well Repeat over the entire EU scaleSeriously threatening cryptus innovation in Europe. In countries as as a Poland and Czech RepublicWhere were the license requirements so far lightMany companies may not be able to observe very complicated The rules of the sheet. So, by accepting the case of Estonia, 75% Cryptos actors (most modest) could succumb.
MICA imposes unbearable costs of compliance with regulations that suffocate small actors
Compliance represents considerable costs For companies in a bitcoin sector. Although it was possible to obtain a license of writing for Several thousand euros In Poland or in the Czech Republic, the cost of the license can be achieved Now 30,000 and 80,000 euros !
In addition, there are expenditure related to Implementation of complex processes To meet the requirements for fighting money (Aml) and funding of terrorism (CTF).
For small businesses and startups these costs are often unbearable. In addition, mica requires the requirements of the registered capital 50,000 to 150,000 euroswhich is out of reach For many young companies.
In the face of these challenges, many small businesses and startups could therefore be forced Door or End the European Union. This situation goes strongly Brave Innovation in the digital asset sector. The EU can cause a crypto ecosystem in Europe well, Loss again in competitiveness on the international scene. ANDExodusOutside Europe, cryptos actors who want to survive this phenomenon, they are getting worse. Only A great monopolistic actor will be able to pay the luxury of team hiring Army of dozens (such as hundreds for binance) lawyers.