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New European Parliament Signals Stability and Support for Crypto Industry

Jun 16, 2024

New European Parliament Signals Stability and Support for Crypto Industry
New European Parliament Signals Stability and Support for Crypto Industry
New European Parliament Signals Stability and Support for Crypto Industry

The new European Parliament, formed after recent elections with 185 million voters across 27 member states participating, has indicated continued support for the cryptocurrency industry. The European People's Party (EPP), holding the largest bloc with 189 seats, is seen as pragmatic and technology-neutral in its regulatory approach, potentially stabilising the industry. Conversely, the Greens/European Free Alliance (Greens/EFA) lost seats, easing pressure on crypto regulations they previously supported. This political shift suggests a favourable environment for crypto miners and ongoing regulatory advancements like the Markets in Crypto-Assets Regulation (MiCA), positioning Europe as a global leader in crypto regulation and fostering business growth across the continent.