EU needs further efforts to implement crypto regulations: Btc. x CEO

The CEO of Btc. x mentioned the possibility of governments deeming the MiCA framework inadequate, leading to a two-sided power dynamic.

Christian Anders, the CEO of Btc. x has said that despite the Markets in Crypto Assets (MiCA) being signed into law, the European Union (EU) might need to do a lot of more lobbying of different regulators in Europe and work with the different governments.

In an interview with Cointelegraph, Anders noted that for the crypto framework stated in MiCA to be accepted in most European countries like Sweden, a bit of “pushing” might be required. He stated that MiCA gives the crypto industry a framework to operate with and is expected to bring clarity.

Anders noted that crypto exchanges eagerly await the full implementation of the MiCA framework, while acknowledging that governments like Sweden are reluctant to issue new licenses for crypto companies. He emphasized that while these governments cannot halt the framework, they can delay its progress. Furthermore, he mentioned the possibility of governments deeming the MiCA framework inadequate, leading to a two-sided power dynamic.

When asked his opinion on which crypto exchange or theory the United States Securities Exchange Commission (SEC) would come for next, Anders said he thinks Crypto​.com might be the next potential target as they operate in America. Continuing, he said he has a more Swedish perspective and could relate to the recent SEC clampdown on Binance and Coinbase. Anders said the SEC shares a similar approach with the government in Sweden as the regulatory challenges in Sweden is happening on a smaller scale when compared to the U.S.

Anders remains optimistic about Bitcoin, dismissing any negative notions. He believes that the efforts of banks and governments to impede cryptocurrency’s growth only fuel his enthusiasm. He asserts that Bitcoin’s (BTC) superiority becomes evident in comparison to the flaws of the fiat system and the stress caused by inflation.

Related:EU starts countdown to crypto legislation, adds MiCA to official journal

The CEO highlighted the rise of the mining industry with companies like Intel entering and manufacturing mining machines. He noted that Bitcoin mining is gaining traction in Europe, especially with the increasing use of renewable energy. Additionally, he emphasized that the younger generation’s affinity for these technologies solidifies their role in shaping the future.

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