Analysis: EU MiCA law will accelerate continued investment in cryptocurrency transaction monitoring systems

According to a report titled "The Impact of MiCA on cryptocurrency market Regulation" released by Acuiti, MiCA in the EU will accelerate the continuous investment in the monitoring system of cryptocurrency transactions. Based on surveys and interviews with senior management of 68 companies engaged in cryptocurrency trading (including buyers, sellers, and exchanges), the entire industry is taking steps to establish a market regulatory system. Among the companies within the scope of MiCA, only 9% of companies are fully prepared, and one-fourth of companies have not yet started preparing. MiCA will take effect at the end of this year, so companies must now determine whether they are within the scope of application and begin preparing for compliance matters.