European crypto users have ‘more faith’ in regulated firms under MiCA: Bitpanda co-CEO
Speaking on Cointelegraph’s Chain Reaction, Christian Trummer said MiCA has increased trust in regulated platforms and called for stricter enforcement against noncompliant firms.
European crypto users are reportedly placing more trust in regulated platforms following the implementation of the EU's Markets in Crypto-Assets framework (MiCA), according to Christian Trummer, co-CEO of Austrian crypto exchange Bitpanda. Trummer made these remarks during an interview on Cointelegraph's Chain Reaction, stating that most users have "more faith" in regulated market participants compared to those in the self-custody-focused "Crypto Twitter" bubble.
However, Trummer also emphasized the need for stricter enforcement of MiCA, noting that some companies continue to serve European customers without complying with the framework, creating a competitive disadvantage for regulated firms. The grandfathering period for existing crypto service providers ended by July 1, and ESMA has called for stronger supervisory powers to address unauthorized crypto services and third-country firms soliciting EU investors without MiCA authorization.
Brief written by urgent.news from Cointelegraph's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
