Bitfinex analyst: Next week’s EU parliamentary elections may hint at the future direction of cryptocurrency regulation

PANews May 30 news, according to The Block, Bitfinex derivatives director Jag Kooner said that the EU Parliament elections next week may provide more clues on how cryptocurrencies are regulated in the market. Kooner said: "Right-wing shifts may lead to stricter cryptocurrency controls, and results that support cryptocurrencies may accelerate the introduction of supportive regulations such as MiCA."

Bitfinex analysts said that investors will pay attention to the EU elections for regulatory clues, which may have a significant impact on the overall cryptocurrency market in June and the following months. Kooner pointed out that the upcoming EU elections are crucial to the formulation of EU legislation, especially the implementation of the Crypto Asset Market (MICA) framework. He added that any results that may strengthen populist parties may in turn affect regulatory positions, leading to stricter controls or more supportive policies, depending on the composition of the new parliament.

The 2024 European Parliament elections are scheduled for June 6 to June 9. This will be the tenth parliamentary election since the first direct election in 1979 and the first European Parliament election since Brexit. In addition, the election will be held at the same time as several other elections in EU member states.