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Microalgae (including cyanobacteria) are the basis for an emerging worldwide industry but still face significant bottlenecks in contributing to the global economy. It is an enormous challenge to translate experiences from established industries such as aquaculture and agriculture to the microalgae sector. In particular, this includes the challenge of adapting regulations that apply to such macroscopic production and mindsets, to the microscopic world of microalgae and to the scale-up to a million times smaller. Current European and country-based regulations do not always, indeed rarely, consider relevant specific issues that limit the path for innovation and growth applicable to the microalgae sector. In this work, the boundaries for the main issues impacting this sector are presented and discussed. Examples and possible analytical frameworks are presented in a question and answer format. Relevant key topics and related boundaries are discussed: What are algae and how do microalgae differ from macroalgae? Why are algae and specifically microalgae relevant? Is algae cultivation an aquaculture process? Can algae and specifically microalgae be classified as vegetables and their production be classified as agriculture or are they an industrial process? How is algaculture compared with other agricultural sectors? What are organic algae? Can microalgae be grown in wastewater and how can they be used? What are toxic algae? What are the bottlenecks for microalgae culture scale-up? How does the microalgae biodiversity contribute to their development? We conclude that microalgae are developing as a novel agricultural enterprise that can provide major benefits to a sustainable circular economy and environment but require appropriate regulations and support from governments and businesses, recognising its unique attributes and potential.