Founders

The new EU regulation MiCA almost killed our startup. We are forced to wind down our B2C business. Only B2B (as a tech provider) is still in place, but we are heavily thinking if is still worth to continue on this road...
AMA.

Can you elaborate on your setup? Are you all living in the EU? Do you want to serve EU customers? How would it look like to work from the EU but to serve e.g. Asian or American customers instead? Is a shift like that possible? How do you think about that?

This is the alt account of Sister Hazel. Writings at https://powerlaw.systems.

all the founders live in Italy. the company was set up in Italy.
it does not matter if we serve customers in the EU or Asia or America. we need to comply with MiCA because the company is Italian.
the only solution is to move the company to some unregulated country but then we need to move as well otherwise the Italian tax office will fine us for creating a company abroad and living in Italy.

yeah it sucks. but if you are in the EU, and the orders pass thru you, you have to comply. this is why all our competitors are moving.  even those from Estonia moved to British Virgin Islands...

Thanks for sharing this. I did not know that your company has to comply even if it does not serve EU citizens. That sounds kinda weird.

Time to leave I guess. I would like to get out if there was a chance for it. Personally just waiting for some kind of opportunity to make the move myself.