EU Crypto Users Put Faith in Regulated Firms Amid MiCA Implementation

European crypto users have grown more confident in regulated platforms following the implementation of the Markets in Crypto-Assets framework (MiCA) by the European Union, according to Christian Trummer, co-CEO of Austria-based exchange Bitpanda.

In an interview on Cointelegraph's Chain Reaction podcast, Trummer stated that most users now have 'more faith' in regulated market participants and trust those platforms after MiCA's rollout.

Trummer contrasted this with the focus on self-custody among some users, known as the 'Crypto Twitter bubble', saying that most users prefer to rely on regulated providers rather than managing their own private keys.

To address the issue of unregulated firms serving European customers without complying with MiCA, Trummer called for stricter enforcement of the framework. He noted that some companies continue to offer services to EU customers despite not holding a MiCA license, putting regulated firms at a competitive disadvantage.