The EU's MiCA regulation is now fully in force, requiring all crypto firms serving EU customers to hold a license. Industry leaders welcome the clarity but warn high compliance costs could shrink the market from 3,000 providers to just 300-400 licensed firms, favoring large players.
MiCA brings regulatory clarity which is positive long-term, but the high cost of compliance and potential consolidation favor big firms over startups, creating real trade-offs for the European crypto ecosystem.
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