New exchange listings suffer due to regulatory pressure in EU
Summary
The EU's Markets in Crypto-Assets (MiCA) regulation aims to tighten the digital asset market, affecting both EU and global firms involved with Euro transactions. The implementation of stablecoin rules in June has led firms to adjust to these changes. Data from Kaiko shows a significant drop in new exchange listings, from 9% growth during Bitcoin's 2021 bull run to just 3%. Specifically, Binance’s active trading pairs are 14% below their peak.
