EU Crypto Rules Too Expensive for Small Startups, Says Ledger Tech Chief

Europe's new cryptocurrency rules are making it nearly impossible for small startups to compete, according to a top tech executive at Ledger, a major crypto wallet company.

The problem is simple: money. The European Union (EU) created new rules called MiCA (Markets in Crypto-Assets - basically laws for cryptocurrency businesses) that require companies to pay huge fees just to operate legally.

Here's what crypto companies must pay under these rules: • $58,000 minimum for giving crypto advice • $174,000 minimum to run a crypto trading platform • Up to $87,000 for each "white paper" (a document explaining their crypto project) • Plus millions more for lawyers, insurance, and following all the rules

"Smaller players cannot access the market," said Charles Guillemet, Ledger's Chief Technology Officer. He explained that only big companies with lots of money can afford these costs, while small startups are shut out.

This creates an unexpected twist: traditional banks are winning in crypto. While the EU says these rules protect consumers, critics argue they're accidentally helping big banks take over the crypto industry from the innovative startups that created it.

The high costs mean that instead of encouraging new ideas in cryptocurrency and Web3 (the next generation of the internet), Europe might be pushing innovation to other countries with friendlier rules.

This is an AI-generated summary. Read the original article at: https://www.coindesk.com/business/2026/06/08/europe-s-strict-new-crypto-rules-are-crushing-small-startups-ledger-cto-says