57% of firms have implemented surveillance systems, anticipating regulatory requirements.
Twenty-five percent of firms have yet to begin preparations.
A recent report highlights the impending impact of the
European Union's Markets in Crypto Assets Regulation (MiCA) on cryptocurrency
trading surveillance. Commissioned by Eventus, the report, "The Impact of
MiCA on Crypto Market Surveillance: Insights and Challenges," draws from
interviews with senior executives at 68 firms involved in crypto trade, conducted
by Acuiti.
MiCA Compliance: Progress and Challenges
MiCA, a pioneering regulatory framework within a major
financial jurisdiction, is prompting a surge in efforts to establish
comprehensive market surveillance systems across the industry. The regulation,
akin to the EU's Market Abuse Regulation (MAR), mandates stringent requirements
for market participants, ushering in new operational standards.
Ross Lancaster Head of Research at Acuiti, Source: LinkedIn
According to the findings, only 9% of surveyed firms fully
comply with MiCA requirements, with a significant 25% yet to commence
preparations. As MiCA's implementation deadline approaches at year's end, firms
are urged to ascertain their regulatory scope promptly and initiate compliance
measures.
Despite challenges, such as identifying suitable third-party
software vendors and navigating compliance costs, the report notes a growing
sophistication in market surveillance practices. Even among firms initially
excluded from MiCA's scope, 57% already employ robust surveillance systems.
"For firms that are not already operating under MIFID
II, MiCA will present a significant operational lift to become compliant, and
it is no surprise that we found that firms were looking to third-party vendors
to assist them in their preparations," said Ross Lancaster, Head of
Research at Acuiti.
"There is a relative lack of awareness among some areas
in the market as to who is in scope, which will need to be addressed if firms
are going to have time to get ready for compliance."
Outsourcing Trends and Compliance Costs
Travis Schwab, CEO at Eventus, Source: LinkedIn
The study highlights consultations on MiCA's final technical
standards, revealing that 25% of affected firms have yet to initiate
preparations, while others are at various stages of readiness. Notably, 64% of
firms intend to outsource system development, anticipating challenges in vendor
selection and resource allocation.
Key concerns among firms anticipating MiCA's impact include
compliance costs and securing qualified personnel, reflecting broader industry
adjustments to regulatory mandates. As regulations change, industry leaders must adjust to new
rules under MiCA.
Eventus CEO Travis Schwab said: "We invested
significantly beginning several years ago in ensuring we could meet the needs
of this sector, including the ability to handle real-time alert generation
covering billions of messages per day, 24x7. Regulation in the EU is only the
beginning of new regulatory guidelines we expect to see in jurisdictions across
the globe in the coming years."
A recent report highlights the impending impact of the
European Union's Markets in Crypto Assets Regulation (MiCA) on cryptocurrency
trading surveillance. Commissioned by Eventus, the report, "The Impact of
MiCA on Crypto Market Surveillance: Insights and Challenges," draws from
interviews with senior executives at 68 firms involved in crypto trade, conducted
by Acuiti.
MiCA Compliance: Progress and Challenges
MiCA, a pioneering regulatory framework within a major
financial jurisdiction, is prompting a surge in efforts to establish
comprehensive market surveillance systems across the industry. The regulation,
akin to the EU's Market Abuse Regulation (MAR), mandates stringent requirements
for market participants, ushering in new operational standards.
Ross Lancaster Head of Research at Acuiti, Source: LinkedIn
According to the findings, only 9% of surveyed firms fully
comply with MiCA requirements, with a significant 25% yet to commence
preparations. As MiCA's implementation deadline approaches at year's end, firms
are urged to ascertain their regulatory scope promptly and initiate compliance
measures.
Despite challenges, such as identifying suitable third-party
software vendors and navigating compliance costs, the report notes a growing
sophistication in market surveillance practices. Even among firms initially
excluded from MiCA's scope, 57% already employ robust surveillance systems.
"For firms that are not already operating under MIFID
II, MiCA will present a significant operational lift to become compliant, and
it is no surprise that we found that firms were looking to third-party vendors
to assist them in their preparations," said Ross Lancaster, Head of
Research at Acuiti.
"There is a relative lack of awareness among some areas
in the market as to who is in scope, which will need to be addressed if firms
are going to have time to get ready for compliance."
Outsourcing Trends and Compliance Costs
Travis Schwab, CEO at Eventus, Source: LinkedIn
The study highlights consultations on MiCA's final technical
standards, revealing that 25% of affected firms have yet to initiate
preparations, while others are at various stages of readiness. Notably, 64% of
firms intend to outsource system development, anticipating challenges in vendor
selection and resource allocation.
Key concerns among firms anticipating MiCA's impact include
compliance costs and securing qualified personnel, reflecting broader industry
adjustments to regulatory mandates. As regulations change, industry leaders must adjust to new
rules under MiCA.
Eventus CEO Travis Schwab said: "We invested
significantly beginning several years ago in ensuring we could meet the needs
of this sector, including the ability to handle real-time alert generation
covering billions of messages per day, 24x7. Regulation in the EU is only the
beginning of new regulatory guidelines we expect to see in jurisdictions across
the globe in the coming years."
Japan Takes Aim at Dollar Stablecoins With SBI-Backed Digital Yen
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
