The implementation of the Markets in Crypto-Assets (MiCA) regulation is presenting challenges for small cryptocurrency firms across Europe. The uneven rollout of MiCA is testing the European Union's vision of a unified single market, as smaller companies struggle to adapt to the new regulatory landscape. Industry experts, including Marina Markezic and Jerome Castille from CoinShares, have highlighted the difficulties faced by these firms in navigating the complex regulatory requirements. MiCA aims to provide a comprehensive regulatory framework for crypto-assets within the EU, but its phased introduction has led to inconsistencies across member states. This has created a challenging environment for smaller firms that lack the resources to manage varying compliance demands. The situation underscores the need for a more coordinated approach to ensure that the benefits of a single market are fully realized for all participants.