Beyond licensing: What MiCAR means for the next phase of Europe’s crypto industry

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A BingX executive believes MiCAR has shifted the focus of Europe’s crypto industry from obtaining authorization to building the structures, processes and standards needed for sustainable operations, allowing regulation and innovation to develop in tandem. Licensing can provide a common framework and consumer protection, but cannot guarantee user adoption; platforms still need to compete on liquidity, products, fees and user experience, while understanding differences across local markets.