🙈 The restructuring of the crypto industry in the EU has begun: who is inside MiCA and who is left out

🙈 The restructuring of the crypto industry in the EU has begun: who is inside MiCA and who is left out

It is worth noting that the Markets in Crypto-Assets (MiCA) regulation establishes a unified regulatory framework for the crypto-asset market across the European Union. The new regime came fully into force on July 1, triggering a major restructuring of the industry, with outcomes that surprised many market participants.

➡️ Who is inside MiCA

🔵 Regulators collectively approved around 200 crypto companies across the European Economic Area. Among them is Revolut.

🔵 Cryptocurrency exchanges Coinbase, Kraken, OKX, Crypto.com, Bitstamp and Bitpanda successfully adapted to the new regulatory framework.

🔵 Digital asset management company Backpack also stated that it fully complies with MiCA requirements. In addition, the wallet holds a license issued by Dubai’s regulator🇦🇪 (VARA) and registration with FinCEN in the United States🇺🇸.

➡️ Who has been left out

🔵 Before MiCA came into force, more than 1,200 crypto companies were registered across the European Union. As a result, over 80% of existing operators failed to transition to the new regulatory regime.

🔵 Among them is Binance. The world’s largest crypto exchange failed to obtain approval in Greece🇬🇷 before the deadline, and its services in the region remain suspended while regulatory proceedings continue.

🔵 MEXC, HTX, Bitfinex and several other companies have not issued public statements regarding the outcome of their licensing processes, although the lack of communication itself is viewed negatively.

🔵 Tether decided not to apply for European authorization, and as a result USDT has effectively disappeared from the regulated market.

➡️ An increasing number of experts argue that regulators no longer view crypto companies merely as technology startups, but rather as providers of financial market infrastructure.

In this environment, the companies best positioned for long-term growth are those capable of operating as fully regulated financial institutions. From this perspective, MiCA represents a significant structural transformation for the digital asset industry.

➡️ Geopolitical context: the author of the article compares the European situation with developments in the United States. According to the analysis, MiCA currently has advantages because, despite legislative progress regarding stablecoins and broader digital asset policy discussions in the U.S., companies still face regulatory uncertainty related to jurisdictional overlap and duplicated supervision among federal agencies. In this context, Europe may increasingly compete not for retail traders, but for institutional capital.

#news #Europe #USA #crypto

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