Bitpanda CEO: MiCA Enhances User Trust in Regulated Platforms

Bitpanda's co-CEO Christian Trummer stated that after the implementation of the EU's Markets in Crypto-Assets Regulation (MiCA), European crypto users' trust in regulated platforms has increased. Most users trust regulated market participants more than those who manage their private keys themselves. Trummer pointed out that the voices advocating for self-custody are mainly concentrated in a small circle on "Crypto Twitter," while the majority of users tend to prefer regulated service providers. He urged regulators to strictly enforce MiCA, noting that some companies are still providing services to European customers without obtaining a MiCA license, putting compliant businesses at a competitive disadvantage. The transition period for existing crypto service providers under MiCA ended on July 1, and the European Securities and Markets Authority (ESMA) has instructed national regulators to take action against unauthorized companies, calling for stronger regulatory powers to address unauthorized crypto services and the solicitation of EU investors by third-country companies that have not obtained MiCA authorization.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.