CoinTelegraph
Sygnum's Simon Schneider argues that Europe's crypto rules should protect customers without pricing smaller firms out of the market. His comments come as the consultation on the Markets in Crypto-Assets Regulation (MiCA) review closes.
Why it matters
MiCA establishes a common EU framework for crypto markets. Schneider's central concern is whether the rules can provide strong customer safeguards while keeping compliance demands manageable for smaller businesses.
That balance matters to the shape of the market: rules that are difficult for smaller firms to absorb could leave them at a disadvantage, while customer protection remains a core goal of regulation.
Market impact
The review puts the cost and reach of compliance in focus for crypto businesses operating in Europe. The consultation's close marks the end of the current feedback window; Schneider's argument is that the EU should preserve the value of a single market while ensuring its rules do not shut smaller firms out.
Frequently asked questions
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What does Simon Schneider want the MiCA review to balance?
Schneider argues that European crypto rules should protect customers without pricing smaller firms out of the market.
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What is MiCA?
MiCA is the EU's Markets in Crypto-Assets Regulation, a common framework for crypto markets across the bloc.
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Why are smaller crypto firms central to this debate?
The debate concerns whether compliance demands can remain manageable for smaller businesses while customer safeguards are maintained.
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What happens when the MiCA review consultation closes?
The current consultation feedback window ends. Schneider's comments argue for balancing customer protection with smaller firms' ability to compete.
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How could the MiCA review affect Europe's crypto single market?
The review puts the cost and reach of compliance in focus, including whether smaller firms can compete within the EU's common market.
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