# Europe’s crypto market reshapes after MiCA as regulated infrastructure becomes essential

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/regulation/31881
Published: 2026-10-14T14:20:36.000Z
Updated: 2026-10-14T14:20:36.000Z
Section: Regulation

> Victor Bodner of Blockben said MiCA has reduced Europe’s crypto participants but increased demand for regulated market entry. He said token projects need real utility, business depth and compliant infrastructure.

Europe’s crypto rules have sharply reduced the number of market participants while increasing demand for institutional entry into the region, according to Victor Bodner, chairperson of the management board at Blockben. Tokenization projects also need real utility and a business foundation if they are to survive beyond issuance, he said.

In an Oct. 14 Cointelegraph interview at Token2049, Bodner said crypto companies have become more focused on accessing the European market through regulated channels since the European Union’s MiCA regime took effect.

Bodner described Blockben as a crypto commercialization platform designed in the European Union. He said the company has operated in crypto since 2018 and provides token issuance, Web2-to-Web3 entry services and tokenization infrastructure focused largely on utility tokens.

The clearest shift since MiCA has been in the number of market participants, he said. At the end of 2024, there were more than 3,000 crypto companies in the European Union, while today slightly more than 200 companies serve European clients from outside Europe with a license. Around 300 licenses are currently in existence, he added.

Bodner said Europe has not become less attractive because of tighter regulation, but has instead become a market that companies take more seriously. The European Union has about 450 million people and a high-income base, he said, and Web3 companies do not want to be left out of the region. “If they want to service European clients, it has to be done through the regulated way,” he said.

Utility and ecosystem depth are the central conditions for tokenization, Bodner said. He said Blockben always asks token issuers what utility, benefits and problem they intend to address. Companies seeking to create a token need a strong answer on what they want to solve and how they plan to attract clients, he said.

The difference between tokens that disappear after volatility and those that last also comes down to a real business base, according to Bodner. Blockben looks at ownership, core business commitment and willingness to build a community when selecting token issuance projects, he said. While crypto remains risky, such tokens are more likely to be stable over the long term and have a longer life, he added.

For Web3 companies entering Europe, Bodner warned against relying on reverse solicitation. Regulators will be strict on the issue, he said, adding that companies should either obtain their own license or, for tokenization projects, prepare a white paper and register it with the European Securities and Markets Authority to provide transparency.

Regulated infrastructure is likely to become close to inevitable, Bodner said. He pointed to regulatory work in both the United States and Europe, calling Europe’s MiCA the most comprehensive framework. Crypto firms’ operations, IT setup and infrastructure risks are all coming under scrutiny, he said, making regulated ecosystems and infrastructure core assets for token projects.