Blockchain Ireland has noted with concern the news that certain crypto exchanges have decided to move their EU MiCA hubs from Ireland for other EU jurisdictions in order to obtain regulatory authorisation.
While Blockchain Ireland does not want to comment on any specific case, it is cause for concern that businesses would leave Ireland, having previously established significant operations here, employing many people. Ireland not only risks losing existing jobs, but also the prospect of a developing industry in this country.
Other businesses, such as the growing Web3 sector, rely on the services provided by the types of businesses that have now gone elsewhere. And while authorisations are cross border within the EU, our long experience in the tech sector has taught us that proximity and a healthy representation of businesses serve to attract more, developing the entire scene.
Blockchain Ireland would encourage any businesses that are engaged in authorisations processes to persevere so that they can benefit from the full range of advantages of doing business in Ireland, supported by a highly educated and skilled workforce, stable environment and full spectrum of technical services from the biggest providers in the market.
We are here to support the ecosystem. Further initiatives to highlight attention to this critical matter are in the works.
Please get in touch if there is anything we can do to support you and/or your business.
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