Ahead of EU Elections, Crypto Industry Pushes Blockchain Merits as Policy Focus Shifts to AI

The architects behind the EU's landmark Markets in Crypto Assets legislation may return, but industry participants still hope for a more progressive assortment.this June – and while tech policy focus has shifted to artificial intelligence , blockchain industry bodies are vying to prove the technology is vital to the bloc’s digitization efforts.

For crypto and blockchain policy in particular, political parties may matter less than lawmakers’ age, according to Robert Kopitsch, secretary general of Blockchain for Europe, one of the four industry associations that collaborated on the manifesto. But first, things overall might potentially slow down, according to Benedikt Faupel at German digital industry association Bitkom, “just because we don't know how the elections play out.”Crypto policy in the European Parliament didn’t have a lot of support to begin with and was spearheaded by “mostly three or four people,” Markezic said.

Another architect of MiCA whose future is up in the air is Mairead McGuinness, who serves as the commissioner for financial stability. MiCA was proposed by the European Commission under McGuinness’ purview. She has said she won’t be contesting in the 2024 parliamentary elections but is open to staying on another term as Commissioner – though that decision ultimately rests with the EU's overarching government.

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