Crypto Exchanges Compete for Europe
Crypto exchanges are establishing operations in Europe, obtaining licenses under the EU’s Markets in Crypto-Assets (MiCA) regulation, which standardizes rules across the European Economic Area (EEA). Major exchanges like OKX, Coinbase, Bybit, and Crypto.com have secured these licenses, positioning Europe ahead of jurisdictions like the U.S. that lack a comprehensive framework. MiCA aims to enhance stability but imposes strict compliance requirements, potentially leading to consolidation in the market as smaller exchanges struggle with costs. The MiCA framework allows exchanges to serve customers across 30 EEA countries with a “pan-European passport.” Increased institutional involvement has been noted, with trading volumes from EU customers rising significantly post-MiCA implementation. Despite challenges in localization and compliance, executives believe that clear regulations will foster trust and drive crypto adoption in Europe, potentially leading to a more competitive landscape.
