EU’s MiCA Regulation Faces Implementation Hurdles, Impacting Crypto Firms

The European Union’s Markets in Crypto-Assets (MiCA) regulation has encountered implementation challenges across its member states, posing potential risks for crypto businesses. Despite the regulation’s aim to create a unified regulatory framework for crypto assets, inconsistencies among member states are leading to differing licensing requirements and operational complexities. This discrepancy is impacting firms like OKX and Gemini, who have chosen jurisdictions based on the ease of access, according to industry observers.