EU Crypto Industry Braces for Change Amid Political Uncertainty and Shifting Priorities

The European Union’s crypto industry is on edge as potential revisions to the landmark Markets in Crypto Assets (MiCA) regulation loom on the horizon. With the political futures of the legislation’s key architects uncertain, the sector is preparing for change.

The EU has already established the world’s first comprehensive crypto rules alongside strict anti-money laundering measures. However, with the upcoming elections and political changes in Europe, the industry is bracing for a shift in focus.

Four leading EU industry groups recently joined forces to promote the use of blockchain technology in the bloc, emphasizing the importance of staying ahead in the global race towards a digital economy. The manifesto they penned highlights blockchain as the trust layer for the convergence of technologies like artificial intelligence, virtual reality, and robotics.

The hope is that a new, potentially younger parliament will be more open to embracing blockchain technology. Younger politicians are likely to be more tech-savvy and easier to engage with on these topics, according to industry experts.

The future of key figures like Greek politician Eva Kaili and Mairead McGuinness, who played crucial roles in shaping crypto policy in the EU, remains uncertain. The outcome of the elections could impact the direction of crypto and blockchain policy in the European Parliament.

While the EU’s tech policy priorities have shifted towards AI, the crypto industry is advocating for the integration of blockchain technology with AI. This strategic move aims to position blockchain as a vital component of Europe’s digitization efforts.

As the elections approach, the fate of crypto and blockchain policy in the EU hangs in the balance. The industry is hoping for continued support and innovation from policymakers to ensure its survival and growth in the region.