European crypto users have ‘more faith’ in regulated firms under MiCA: Bitpanda co-CEO

What happened

European crypto users have ‘more faith’ in regulated firms under MiCA (the EU’s regulation for crypto markets): Bitpanda co-CEO, according to Cointelegraph. Speaking on Cointelegraph’s Chain Reaction, Christian Trummer said MiCA has increased trust in regulated platforms and called for stricter enforcement against noncompliant firms. European crypto users are placing more trust in regulated platforms following the implementation of the European Union’s Markets in Crypto-Assets framework (MiCA), according to Christian Trummer, co-CEO of Austria-based crypto exchange Bitpanda.

Speaking on Cointelegraph’s Chain Reaction , Trummer said most users have “more faith” in regulated market participants and trust those platforms following the rollout of MiCA. He contrasted that with what he described as a “Crypto Twitter” bubble focused on self-custody, saying most users prefer regulated providers rather than managing their own private keys.

MiCA’s grandfathering period for existing crypto service providers ended no later than July 1, with ESMA directing national regulators to take action against unauthorized firms that continued providing crypto services after their applicable transition period. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information.