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

Christian Anders, the CEO of Btc.x, has declared that even though the Markets in Crypto Assets (MiCA) has been legally sanctioned, the European Union (EU) may need to engage in extensive lobbying of various regulators across Europe and collaborate with various governments.

In an interview with Cointelegraph, Anders mentioned that in order for the crypto framework outlined in MiCA to be accepted in countries like Sweden, some effort might be necessary. He said that MiCA provides the crypto sector with a framework to work within and is expected to bring clarity.

Anders pointed out that crypto exchanges are keenly awaiting the full implementation of the MiCA framework, but governments such as Sweden are hesitant to grant new licenses to crypto businesses. He highlighted that while these governments cannot stop the framework, they can impede its advancement. Additionally, he mentioned the possibility of governments considering the MiCA framework inadequate, creating a two-sided power dynamic.

When questioned on which cryptocurrency exchange or concept the Securities and Exchange Commission of the United States could be targeting next, Anders suggested Crypto​.com, as it operates in the US. He further mentioned that his opinion was coming from a Swedish point of view, and that he could understand the SEC’s recent enforcement against Binance and Coinbase. He added that the SEC shares a similar attitude to that of the Swedish government, as the regulatory complications in Sweden are more limited in comparison to those in the US.

Despite any criticism, Anders is still hopeful about Bitcoin. He is energized by attempts from banks and governments to impede cryptocurrency’s progress, seeing it as a sign of Bitcoin’s (BTC) superiority to the traditional fiat system and the financial woes caused by inflation.

The European Union has begun the countdown to the enactment of its cryptocurrency legislation, with the MiCA regulation being published in the Official Journal.

The CEO underscored the growth of the mining industry with Intel and other companies creating mining machines. He remarked that Bitcoin mining is becoming more popular in Europe, especially with the rising utilization of renewable energy. Moreover, he highlighted the fact that the younger generation’s affinity for these technologies guarantees their role in forming the future.

The magazine states that Bitcoin is heading towards the goal of achieving ‘Net Zero’ emissions.