European Crypto Users Prefer Regulated Platforms Post-MiCA Implementation
- Most European crypto users have increased trust in regulated platforms since the rollout of the EU’s Markets in Crypto-Assets framework (MiCA).
- Christian Trummer, co-CEO of Bitpanda, noted that users prefer regulated providers over self-custody options.
- The grandfathering period for existing crypto service providers under MiCA ended on July 1.
- ESMA has called for stronger enforcement against unauthorized firms serving EU customers without MiCA compliance.
- Trummer emphasized that non-compliant companies create a competitive disadvantage for regulated firms.
The implementation of MiCA has led to a significant shift in user trust towards regulated platforms, as highlighted by Bitpanda’s co-CEO. The call for stricter enforcement against unauthorized services underscores the need for a compliant market environment.
As more users favor regulated exchanges, it is crucial to address non-compliance issues that threaten market integrity and fair competition among firms.(Source)
