MiCA’s First Challenge: Google Ads and Malta Change Europe’s Crypto Scene
Only a few months after the full implementation of Europe Markets in Crypto-Assets (MiCA) regulation, the holes in the EU-wide common policy of cryptos are starting to show. Regulatory arbitrage is no more: whether it is the ad clampdown by Google or a licensing race, startups are now having to choose between speed and scale.
Micro‑States, Mega Influence
MiCA promised harmonization, but its early impact reveals something else: small EU regulators setting the rules for the whole bloc. In recent weeks:
- Malta approved major players like Crypto.com and OKX, with Gemini next in line.
- Luxembourg is expected to finalize Coinbase’s EU entry in Q3.
- In the meantime, Germany and France are stagnating authorizations and demanding…
