Policy Event Β· Medium impact

Ledger CTO Warns MiCA Costs Are Excluding Smaller Crypto Firms

Ledger CTO Charles Guillemet warned that MiCA's capital, audit, insurance and compliance costs are pushing smaller crypto startups out of the European market. The signal points to continued CASP consolidation and higher licensing barriers as the EU rulebook moves into full operation.

Medium impact🌐 EURegulationLicensingLedger

APAC FINSTAB analysis

Although this is outside core APAC, it is relevant because global market-structure, enforcement, and stablecoin precedents often shape licensing expectations for APAC exchanges, issuers, custodians, and DeFi teams. Named institutions or platforms: Ledger. Teams should monitor the original source, map the change to licensing, custody, disclosure, and market-access obligations, and update their jurisdiction playbooks before the next compliance review.

Compliance read-through: map this event to entity licensing, market-access, custody, disclosure, token listing, and operational-risk obligations before expanding or marketing in the affected jurisdiction.

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Related policy events

AUSTRAC Reiterates Customer Due Diligence As Core AML CTF Control

AUSTRAC used International FIU Day to reiterate that customer due diligence is central to detecting, disrupting and preventing money laundering and terrorism financing. The reminder lands during Australia's virtual-asset AML/CTF transition, reinforcing KYC collection and verification expectations for regulated firms.

Low impactπŸ‡¦πŸ‡Ί AustraliaAMLRegulation