MiCA is not the problem. Dorota Zablocka (3Dots) points out the real threat to cryptocurrency from the EU

MiCA regulations and the future of the cryptocurrency market

The European cryptocurrency market has been worried about its future for more than 2 years due to the Markets in Crypto Assets (MiCA) regulation, which went into effect on December 30, 2024.

Esteemed Web3 lawyer and founder of legal boutique 3Dots, Dorota Zablocka, explained what the problem with regulation of the sector on the Old Continent really is.

Who will lose by cryptocurrency regulation in Europe?

We spoke with Dorota Zablocka during the 2nd edition of the Crypto Community Conference, which took place in Lodz on February 1.

The lawyer clarified a number of issues of concern related to the implementation of regulations under the MiCA regulation by cryptocurrency companies.

Do the new regulations mean only losses?

Do the new regulations mean that legal entities in the blockchain industry will only suffer losses?

The 3Dots CEO thinks not necessarily, and pointed out a market segment where there is still plenty of room to operate.

Strictly decentralized companies can take advantage of the current situation in the European market.

Decentralized companies can benefit from MiCA

• MiCA opens a lot of very cool gateways for companies that want to operate in such a crypto-friendly way.
• Consider, for example, decentralized entities such as DAOs.
• If we have decentralized or non-EU entities that do not directly target EU customers, they can still provide their services without a MiCA license, the lawyer explains.

DORA - a real threat to cryptocurrency companies

Dorota Zablocka also addressed a very important topic that is not often discussed in the context of regulation in Europe.

The regulation in question is DORA (Digital Operational Resilience Act), which focuses on the resilience of financial entities to digital risks.

What does DORA introduce?

DORA has introduced new cyber security standards across the European Union.

As Dorota Zablocka explained, this legislation poses a huge problem for cryptocurrency companies.

• I am convinced that obtaining the MiCA license itself will not be the biggest challenge, but meeting the requirements that come with DORA.
• Most entities do not have the team or resources to build such a technological infrastructure.
• It seems to me that there will be players who have fantastic ideas, but regulations may lead these projects to seek a more friendly environment outside of Europe.

‍USAan alternative to European cryptocurrencies?

According to Dorothy Zablocki, the U.S. could be an attractive destination for many cryptocurrency projects.

• The US could be a cool direction," the lawyer points out.

New regulations such as MiCA and DORA could have a huge impact on the future of the European cryptocurrency market.

MiCA creates new opportunities for decentralized companies, but DORA may become an impassable barrier for many startups.

Some companies may choose to migrate outside of Europe in search of a friendlier regulatory environment.

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