Venture capital investment into European crypto projects increased almost ten times in the past year, going from 5.9% in Q1 of 2022 to 47.6% in Q1 of 2023.
The increase is due to the regionโs regulatory clarity following the European Union’s passage of the MiCA law.
The European Parliament passed the ๐๐๐ซ๐ค๐๐ญ๐ฌ ๐ข๐ง ๐๐ซ๐ฒ๐ฉ๐ญ๐จ ๐๐ฌ๐ฌ๐๐ญ๐ฌ ๐๐๐ฐ (๐๐ข๐๐) in April but will not apply until July 2024. The law, which has garnered large interest from the crypto community, would allow the E.U. to have a unified approach to crypto asset regulation across 27 member states.
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