Gate Europe CEO says MiCA license does not guarantee survival

Giovanni Cunti, CEO of Gate Europe, the European unit of crypto exchange Gate, said obtaining a MiCA license does not guarantee long-term survival in the European market for crypto firms, according to Cointelegraph's 'Chain Reaction' podcast. Cunti, a crypto executive with Chinese roots, said many companies that have secured MiCA licenses may not be able to bear the costs and resources needed to sustain their businesses over the long term. He added that high operating costs and regulatory compliance burdens will continue even after a license is obtained.