Portuguese crypto companies are asking the European Union to eliminate rules they consider harmful to small digital asset platforms. The sector argues that current legislation "crushes" smaller platforms, creating unnecessary difficulties for their operation in the market.
The sector considers that the current regulatory framework favors the large market 'players'. This happens because the same compliance requirements are demanded of a small cryptocurrency platform and a large bank, which puts smaller companies at a significant competitive disadvantage.
The companies believe that the ongoing public consultation represents an opportunity to change European legislation. Through this consultation, the sector hopes to be able to demonstrate to the European Commission the problems caused by current regulation and propose changes that allow for a more balanced framework for smaller platforms.
