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Petr Valov, CEO of Exness, has called for the reduction of excessive regulations in Europe, arguing that deregulation could help boost the region's economic competitiveness. Speaking at the Digital Agenda conference, Valov highlighted the challenges facing European entrepreneurs, particularly in the technology sector, which is heavily regulated.
“Europe over-regulates everything related to entrepreneurship,” Valov said during his presentation. He pointed out that potential business owners face an overwhelming number of rules and laws. In the technology sector alone, which Exness specializes in, there are over 100 laws and 270 regulations across the continent.
While Valov acknowledged that regulations are necessary to maintain a framework of protection and good business practices, he expressed concern that the current level of regulation is stifling innovation. "Regulations, which are binding legislative acts applied across the EU, often prevent startups from being born within the EU," Valov stated. "Instead, businesses are being established outside Europe and only later bring their products or services into the EU."
He also noted that over-regulation disproportionately impacts smaller companies, while larger firms are better equipped to handle the regulatory burden.
Valov concluded by stressing that Europe’s economy could become more competitive by embracing the principles of freedom, simplification, and maximizing efficiency.
