01/04/26
As MiCA (Markets in Crypto‑Assets Regulation) enters its implementation phase, the EU is facing growing pressure from industry leaders to ease certain thresholds that may unintentionally stifle innovation.
Here’s what’s driving the debate 👇
📉 1. Industry Says Thresholds Are Too High
Crypto companies argue that MiCA’s requirements for:
Capital reserves
Reporting obligations
Stablecoin issuance limits
Liquidity thresholds
…are disproportionately heavy for early‑stage firms.
🏦 2. Stablecoin Issuers Are Pushing Back
Under MiCA, stablecoin issuers must meet:
Strict reserve rules
Daily reporting
Redemption guarantees
Caps on transaction volumes
Some issuers warn these rules could push innovation outside the EU.
🌍 3. EU Risks Losing Competitiveness
With:
Hong Kong opening its crypto licensing regime
UAE attracting global exchanges
U.S. moving toward unified oversight
…Europe risks falling behind if MiCA becomes too restrictive.
🧩 4. Regulators Are Open to Adjustments
EU policymakers are now considering:
Lowering certain thresholds
Adjusting liquidity requirements
Creating “proportional” rules for smaller firms
Offering regulatory sandboxes
This signals a willingness to balance innovation and consumer protection.
💡 Final Thoughts
MiCA is a landmark framework, but it must remain flexible.
The EU’s ability to attract Web3 companies will depend on proportionate, innovation‑friendly thresholds.
👉 Contact us directly at info@nur-legal.com
Melisa Dogan