According to Martin Bruncko, executive vice president of the European division of Binance, the MiCA cryptocurrency regulation bill will benefit small digital asset companies.
According to him, now the supervision of the industry in the region is fragmented: in 27 EU countries there are different regulatory regimes. As a result, exchanges are forced to spend a lot of time and money to ensure full compliance in all jurisdictions.
He has said:
“We are actually, I would say, almost delighted with MiCA, because the bill creates a single market.”
The current regulatory environment is holding back smaller players from scaling up. He has urged not to be afraid of the new rules, as they will make it easier for businesses to grow and allow startups to focus on growth, not compliance.