MiCA reshapes Europe’s crypto market as Italy takes focus
As the European Union’s (EU) Markets in Crypto-Assets (MiCA) framework begins to standardise crypto regulation across member states, attention is shifting from speculative growth to regulated market development. Speaking at SiGMA Central Europe 2025, Fiorentina D’Amore, CEO in Malta and Senior Director of Business Operations EU at Blockchain.com, spoke about how regulation, education, and market readiness are shaping the next phase of digital finance across the continent, with Italy emerging as a key growth market.
Driving growth in Europe
In October 2025, Blockchain.com received its Markets in Crypto-Assets (MiCA) licence and plans to passport its services across the EU. MiCA introduces a harmonised regulatory framework for crypto service providers, aimed at improving consumer protection, market transparency, and cross-border consistency across EU member states.
According to D’Amore, this regulatory milestone opens major opportunities, particularly in Italy, which she described as an emerging and still underdeveloped crypto market. She explained that Italy remains semi-virgin territory for crypto adoption. While usage is still limited, this lack of maturity signals opportunity rather than constraint. Education, she stressed, is the foundation of growth.
D’Amore explained, “When it comes to crypto, the first and most important thing is education. So, Blockchain.com, as all other crypto entities, focuses first and foremost on awareness, on awareness of our brand, on awareness of the product, but especially the risks of the product. With MiCA, we have the amazing opportunity of building user trust and consumer trust exactly like any other financial service or banking services.”
D’Amore also highlighted Italy’s long-standing strength in digital payments, driven by policies aimed at preventing money laundering and tax evasion, which accelerated financial digitalisation.
Financial inclusion opportunities
According to a Grand View Research report, Europe’s blockchain technology market generated $9.16 billion in 2024 and is projected to grow to over $412 billion by 2030, representing a compound annual growth rate of nearly 90 percent. D’Amore emphasised that Blockchain.com’s strategy in Italy will be long-term, built on physical presence and sustained engagement rather than rapid expansion. The company plans to establish a footprint in the country, operating as a recognised crypto exchange and crypto company.
D’Amore said, “It’s not going to be something done from day to day. We plan to have a presence and footprint in Italy. There’s going to be two, and we are going to be one brand that is present here with crypto as a crypto exchange and a crypto company.”
She pointed to strong potential across B2B, B2C, and high-net-worth segments, underlining that financial inclusion is tied directly to accessibility and trust in regulated digital financial services.
Trust through wallets
With technical assistance from the Malta Information Technology Agency, the Malta Digital Innovation Authority (MDIA) was recently approved as the nation’s European Blockchain Services Infrastructure (EBSI) node operator. EBSI is a pan-European, public-driven blockchain network that supports cross-border digital services like verifiable credentials and trusted data exchange. This action synchronises national initiatives for digital transformation with broader EU blockchain policy and infrastructure development.
Addressing the role of crypto wallets and exchanges, D’Amore framed adoption as part of a broader historical evolution in finance. She noted, “We are living a paradigm of shift from the traditional financial services to a completely new concept, which is virtual financial services. Crypto is not just the future of payments. It’s also the presence of payments.”
According to D’Amore, many communities and industries are already operating on crypto-based business models. However, widespread trust depends on regulation. Once crypto is perceived as a regulated and consumer-protective product, mass adoption can follow. She also stressed the importance of enterprise adoption, noting that widespread acceptance by major e-commerce platforms would systematise crypto as a payment method.
D’Amore emphasised, “The only way that trust can be built in the consumer is by regularising it. MiCA has that power. Trust is the key to mainstream adoption.”
Next digital economy shift
Looking ahead, D’Amore said Europe’s digital economy is already transforming, driven primarily by regulatory harmonisation. She explained that before MiCA, national regulators interpreted crypto differently based on local risk appetites. MiCA, while not a complete solution, represents a decisive step forward.
The ultimate goal, she said, is unified regulation across all European member states, reducing fragmentation and prioritising consumer protection. Unlike other directives, MiCA allows no national interpretation, ensuring consistency by design.
D’Amore concluded, “We should expect MiCA 1, MiCA 2, MiCA 3, as it is with Payment Services Directive 1 (PSD 1), PSD 2, and probably very soon PSD 3. There is no room for interpretation of every country. All the big players are aiming at the European Union from the EU; one needs to expect a springboard to the other countries as well.”
As crypto continues its rapid evolution, she described the coming period as both transformative and fast-moving, reshaping finance from within a regulated European framework.
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