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EU Parliament Member Says Governments Don’t Need Strict Regulations After FTX Collapse

EU Parliament Member Says Governments Don't Need Strict Regulations After FTX Collapse

According to European Parliament member Stefan Berger, the collapse of exchange titan FTX should prevent the European Union from enacting any additional crypto regulations.

EU Parliament Member Says Governments Don't Need Strict Regulations After FTX Collapse 2

The chief negotiator on the Markets in Crypto Assets (MiCA) file said that regulators should hold off until the new EU laws governing cryptocurrencies take effect.

MiCA’s regulations on crypto asset service providers would have lessened the effect of the crisis, according to several EU lawmakers and academics.

However, given that the crisis was caused by a more extensive network of interconnected financial institutions and since FTX does not have an EU headquarters, some MPs are less certain about how much MiCA could have resolved.

FTX left a huge void for the crypto industry after it collapsed, which is one of the biggest events to happen in recent years.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.