More MiCA-licensed crypto firms could exit EU market
Gate Europe CEO Giovanni Cunti says more micalicensed crypto firms may leave the EU market because ongoing MiCA compliance costs are hard to sustain. After the July 1, 2026 transition deadline, licensed operators face heavier burdens, while the competitive field has shrunk from thousands of firms to only hundreds. That warning, shared with Cointelegraph, lands as Europe settles into its new crypto rulebook and investors watch who can keep operating.
Key Takeaways
- Gate Europe CEO Giovanni Cunti expects more MiCA-licensed firms to struggle with long-term compliance costs and resources.
- The EU’s 18-month MiCA transition ended July 1, 2026, requiring authorization to serve EU customers or stop regulated services.
- ESMA’s CASP register reached 294 after 14 firms were added Friday, following 37 in the first post-deadline update.
- Cunti says a smaller operator pool still creates opportunity as customers migrate to licensed providers.
Why could more MiCA-licensed crypto firms leave Europe?
Cunti argued that acquiring a MiCA license is not the finish line. Ongoing costs and staffing needed to stay compliant may prove too heavy for some authorized firms over time.
“I think there are going to be quite a few more of the ones that acquire MiCA license that will not be capable to sustain the cost and the resources that are needed to carry on this business in the long term,” he said on Cointelegraph’s Chain Reaction.
Stricter rules, he added, also make it harder for new entrants to compete. For readers tracking regulatory fallout, BlasterPost’s Fintech & Crypto Alerts coverage follows how licensing shifts reshape market access.
What changed after the MiCA transition deadline?
MiCA is the EU framework for crypto assets. The bloc’s 18-month transition period ended on July 1, requiring firms serving EU customers to operate under authorization or cease regulated services.
That deadline pushed several exchanges to restrict or withdraw services in parts of Europe. Licensed firms began operating under the new regime. Binance, the world’s largest crypto exchange by trading volume, was not able to secure a MiCA license before the deadline.
Authorization counts are still rising, though more slowly. On Friday, the European Securities and Markets Authority added 14 crypto-asset service providers to its register, bringing the total to 294 after adding 37 firms in ESMA’s first update following the July 1 deadline.
Could MiCA push crypto projects outside the EU?
Cunti also warned that stricter requirements could drive some startups and projects to launch elsewhere. He said MiCA has strengthened investor protections but leaves less room for innovation than jurisdictions with lighter rules.
“We may need to be prepared that some projects, possibly some important projects, may be looking at other jurisdictions with different guidelines,” he said.
At the same time, he framed the shrunken field as a chance for remaining providers. “There was a market with thousands of operators, and now there is a market with only hundreds,” Cunti said. “So definitely there is a big opportunity for all of us. There is an ongoing migration because customers do not want to lose access to this market.”
Bottom line: licensing alone may not guarantee staying power under MiCA. Compliance economics—and where projects choose to launch—will likely decide which crypto firms remain viable in the EU market.