The implementation of the EU MiCA law and the formation of UK regulation promote the integration and merger of the European cryptocurrency industry

According to CoinDesk, the implementation of the EU MiCA Act and the formation of the UK regulatory framework have propelled the European cryptocurrency industry into an integration and merger cycle centered on compliance capabilities and capital size. Morgan Lewis London office partner Steven Lightstone stated that the Financial Conduct Authority (FCA) in the UK has strict regulatory standards in the field of consumer protection. Simon Schneider, CEO of Sygnum Europe, stated that MiCA provides legal certainty for financial institutions to enter the digital asset market, and in the future, banks will collaborate with crypto native enterprises in the areas of custody, brokerage, staking, and asset tokenization.