By Vijay Pravin, Founder & CEO of bitsCrunch The European Union (EU) was the first major jurisdiction in the world to propose and approve regulation on the crypto market. This came in the form of Markets in Crypto Assets or MiCA. Passed in the EU in 2022, MiCA primarily focuses on maintaining financial stability, protecting investors, and promoting extensive transformation in the EU’s crypto-asset sector. Although it did not come without its own set of obstacles. Regulatory Challenges and the Emergence of Sandboxes and Pilot Programs Blockchain startups in the EU face numerous challenges in co…