Charles Guillemet, CTO of Ledger, has criticized the European Union's regulatory framework for stifling Web3 innovation by imposing high compliance costs on crypto startups. The EU's Markets in Crypto-Assets (MiCA) regulation, intended to create a secure market, requires crypto companies to meet steep financial barriers, including tiered capital requirements and costly legal compliance. These costs, ranging from €50,000 to €150,000, are seen as prohibitive for smaller firms, giving an edge to established financial institutions. As traditional finance transitions to blockchain adoption, Ledger is expanding its business-to-business infrastructure to meet the demand for enterprise-grade custody and asset tokenization. Despite Ledger's significant investment in security, the company has faced operational risks, including past data breaches. The regulatory environment is pushing smaller startups out of the market, while traditional banks leverage native crypto security firms to integrate blockchain technology into global finance.