Many payment industry leaders are struggling with the complexities of the Markets in Crypto-Assets Regulation (MiCA), with 37 per cent citing uncertainty over which regulatory requirements apply to their businesses.
This finding comes from a poll conducted during Clear Junction‘s ‘MiCA Masterclass’ webinar, held in collaboration with financial services compliance consultancy fscom.
The webinar addressed key challenges such as understanding authorisation processes, transitional requirements for businesses operating under previous regulations and the regulatory framework for stablecoins.
Clear Junction, a provider of cross-border payments for regulated financial institutions, noted that MiCA, while challenging, presents an opportunity for businesses to align with a more secure and regulated financial system.
Dima Kats, CEO and Founder of Clear Junction, said: “Regulatory clarity is more than just a hurdle; it’s an opportunity for businesses to establish themselves as trusted players in the evolving financial landscape. With 37 per cent of payment leaders identifying the challenge of understanding which regulatory requirements apply to them under MiCA, it’s clear that many are still navigating the complexities of this landmark regulation.
“However, as MiCA aims to address fragmentation and enhance consumer protection, it also offers businesses the chance to align with a future where crypto-assets are integrated seamlessly into the global financial system. Embracing these regulatory changes will not only help businesses comply, but will also position them at the forefront of a new era in finance – one where trust, stability, and security are key drivers of success.”
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