MiCA Three Days Later: Europe Accused of Leaving Crypto’s Riskiest Window Open

📖 3 min de lecture Three days after the entry into force of the MiCA regulation (Markets in Crypto-Assets), the debate is intensifying over its real effectiveness. While the European Commission is progressively locking European market access for offshore players, an opinion piece published by CoinDesk accuses the regulatory framework of “closing the door on...

DailyCryptoNews2 July 2026⏱ 3 min de lecture

⏱ 3 min de lecture

Par DailyCryptoNews
Publié le 2 July 2026

Regulation

📖 3 min de lecture

Three days after the entry into force of the MiCA regulation (Markets in Crypto-Assets), the debate is intensifying over its real effectiveness. While the European Commission is progressively locking European market access for offshore players, an opinion piece published by CoinDesk accuses the regulatory framework of “closing the door on offshore players while leaving the riskiest window open.”

Last-Minute Approvals Multiply

The final hours have been marked by a wave of last-minute approvals as the MiCA transition period comes to an end. Many European players rushed to register with national authorities, fearing exclusion from the single market.

Crédit Agricole notably launched its EURXT stablecoin under the MiCA framework, a major first banking validation of the new regime. This initiative shows that traditional European banks see MiCA as an opportunity to develop compliant crypto products, rather than a regulatory obstacle.

Criticism Emerges

The main criticism leveled at MiCA is that it fails to cover certain segments deemed high-risk, notably decentralized finance (DeFi) and non-fungible tokens (NFTs) in their purely digital dimension. The CoinDesk opinion piece, titled “Europe is closing the door on offshore crypto, but it’s leaving the riskiest window open,” argues that the European framework creates a regulatory blind spot: DeFi protocols that remain accessible from Europe without being subject to MiCA.

Another CoinDesk article, “Three years after MiCA became law, Europe’s crypto framework is undergoing a rethink,” suggests that Brussels is already considering adjustments. The framework, designed three years ago, must adapt to recent innovations such as restaking protocols, layer 2s, and next-generation algorithmic stablecoins.

Europe at a Crossroads

The European Union finds itself at a regulatory crossroads. On one hand, MiCA provides a stable legal foundation that has already attracted institutional players (Crédit Agricole, Standard Chartered via Circle). On the other, critics point to an incomplete framework that could create a “regulatory Wild West” in uncovered segments.

For European investors, MiCA represents a major step forward in terms of protection and transparency. But the upcoming debates on its scope and potential adjustments will be decisive for the future of the European crypto market.

Sources: CoinDesk, CoinTelegraph, European Commission, Crédit Agricole.