Skip to main content
727 Finance
English

After the implementation of MiCA, European encryption users trust compliance platforms more, Bitpanda co-CEO calls for strengthening law enforcement

Odaily Planet Daily reported that Christian Trummer, co-CEO of Austrian cryptocurrency exchange Bitpanda, said that after the implementation of the EU’s Cryptoasset Market Regulation Act (MiCA), most users have more confidence in regulated market participants and trust compliance platforms.

Trummer also called for stronger MiCA enforcement, saying some companies are still providing services to European customers without complying with MiCA licensing requirements, putting compliant companies at a competitive disadvantage.

MiCA’s transition period for existing encryption service providers is set to end on July 1 at the latest, and the European Securities and Markets Authority (ESMA) has asked national regulators to take action against unauthorized companies that continue to provide encryption services after the end of the transition period.

ESMA also called for strengthened supervisory authority to deal with crypto services not authorized under MiCA, as well as third-country businesses soliciting business from EU investors. (Cointelegraph)

Related news

  1. Binance is in talks with Malaysian regulators for a license as it seeks to re-enter the local market.

  2. U.S. spot SOL ETFs recorded a single-day net outflow of $10.742 million.

  3. U.S. spot XRP and ZEC ETFs recorded a combined single-day net outflow of USD 5.0679 million.

  4. Ethereum spot ETFs saw a net outflow of $156 million yesterday, marking 5 consecutive days of net outflows.

  5. Spot Bitcoin ETFs saw a net outflow of $643 million yesterday, with BlackRock's IBIT leading with a net outflow of $234 million.

    PANews October 31 news, according to SoSoValue data, yesterday (US Eastern Time October 30), the total net outflow of spot Bitcoin ETFs was $643 million. Yester...