The startup killer: Ledger CTO says the EU's crushing compliance costs are choking Web3 innovation

Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email The startup killer: Ledger CTO says the EU s crushing compliance costs are choking Web3 innovation Industry insiders warn that MiCA s steep financial barriers are choking early-stage innovation. By Olivier Acuna | Edited by Jamie Crawley Jun 8, 2026, 3:38 p.m. 3 min read Make preferred on Charles Guillemet. Ledger CTO, said the unintended outcome of MiCA has affected crypto startups in the EU. (Olivier Acuna/CoinDesk) What to know : The European Union’s MiCA rules impose steep capital, legal and compliance costs that industry figures say effectively shut out smaller crypto startups while favoring large, well-funded financial institutions. Regulators argue that MiCA’s stringent requirements are necessary to protect consumers and build trust, even as traditional banks accelerate their move into blockchain and crypto services. As banks turn to specialized firms like Ledger for enterprise-grade custody and tokenization despite past security breaches, native crypto companies are increasingly powering the infrastructure of mainstream finance in Europe. The European Union’s (EU) regulatory framework has redefined the competitive landscape of Web3, unintentionally shifting the advantage away from crypto startups, directly into the hands of legacy financial institutions, according to Charles Guillemet, chief technology officer (CTO) at wallet maker Ledger.