MiCA in Practice: Why Regulation Is Reshaping the European Crypto Business

The first months of MiCA are already showing one thing clearly: Crypto is no longer de-regulated. For serious players, it is becoming the defining factor of trust, scalability, and long-term success. At our Highgate Talks brunch, founders and CEOs of leading crypto companies shared what it really takes to build a regulated business in the EU, and why it changes everything.

From “lawless” beginnings to regulated reality

Crypto started as a space built on the idea of decentralized system where regulation was almost non-existent.

However, as highlighted during the discussion, that phase is over. Today, governments are fully capable of enforcing rules, and businesses must adapt accordingly.

The introduction of MiCA represents a structural shift. It is not just about compliance. It is about redefining how crypto companies operate, scale, and interact with traditional financial systems.

At Highgate Group, we see this transition daily in practice. Companies that previously operated flexibly now need to rethink their entire setup – legally, operationally, and economically.

MiCA licenses: Cost, complexity and strategic advantage

One of the strongest insights from the panel was the true cost of regulation.

Obtaining a MiCA (CASP) license is not a simple administrative step. It represents a full transformation of the company:

• months (for some VASPs it was almost a year) of preparation,
• hundreds of internal hours spent on documentation,
• significant legal and advisory costs,
• ongoing compliance costs exceeding EUR 10,000 monthly,
• in some cases, the total costs may exceed EUR 1 million.

From our advisory experience in Highgate Group, this aligns with reality. MiCA is not a “checkbox exercise”. It requires building a robust infrastructure, governance, and internal processes; not only to successfully navigate the licensing proceedings, but a CASP must also then comply with all the legal requirements applicable to its operations.

But the key takeaway is this: the license is not just a cost; it is an asset.

Without it:

• investors hesitate,
• partners reject cooperation,
• banks avoid engagement.

With it:

• partnerships reopen,
• investors’ confidence increases,
• market access expands.

Regulation as a gateway to scaling beyond borders

Another critical topic was international expansion.

MiCA creates a unified regulatory framework across the EU, which allows licensed companies to scale more efficiently.

Panelists confirmed that after obtaining the license, they were able to:

• reopen partnerships in countries like France and the Netherlands,
• access new distribution channels,
• build trust with institutional partners.

In other words, regulation and compliance become a passport to growth.

This is exactly where we see the biggest value for our clients at Highgate Group – designing structures that are not only compliant, but also scalable across jurisdictions.

The role of regulators: Obstacle or partner?

Interestingly, the perception of regulators is evolving.

While the licensing process was described as demanding and complex, the Slovak regulator (The National bank of Slovakia) was also referred to as:

• transparent,
• open to discussion,
• technically competent.

Compared to other jurisdictions, Slovakia is increasingly viewed as a credible environment for regulated crypto businesses.

This is a crucial point. Regulation alone is not enough, its practical application and dialogue between market players and regulators define whether a jurisdiction becomes attractive or not.

Conclusion: MiCA is not optional, it is the new standard

The discussion made one thing clear: companies that want to operate in crypto lawfully and on a long-term basis cannot remain unregulated. In the EU, regulation is not a matter of choice, but it has become a legal requirement.

MiCA is raising the barrier to entry – but at the same time, it is creating a more stable and trustworthy market environment.

For founders, it means higher costs and complexity.
For investors and partners, it means higher confidence.

At Highgate Group, we actively work with clients navigating this transition  – from structuring their business models to securing licenses and setting up compliant operations. As of March 2026, we have assisted our clients in securing half of all CASP licences issued in Slovakia. We also advised a licenced CASP on select issues arising during its licensing proceedings. In addition, we provide  accounting services to all of these clients, which has enabled us to build a particularly strong crypto advisory practice in Slovakia.  

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Do not hesitate to contact us:

• Peter Varga, e-mail: peter.varga@highgate.sk

Alternatively, you can address your specific questions in a consultation with our partner Peter Varga, who specialises in financial regulation and tax law. You can book a consultation here: