Europe has done something important. With MiCA, the EU created the world’s first comprehensive regulatory framework for crypto-assets. That is a significant achievement, not only for the digital asset industry, but for Europe’s wider ambition to lead in responsible financial innovation.

MiCA’s promise was clear: a harmonised single-market framework for crypto-asset services across the EU, greater clarity for users, more certainty for firms, and a level playing field for responsible operators willing to meet high standards.

Binance has supported that objective from the beginning, and we continue to support it today. But frameworks are only as strong as their implementation.

As MiCA moves from legislation to implementation, an…