European Crypto Users Trust Regulated Platforms Over Self-Custody

European crypto users have shown increased faith in regulated platforms since the implementation of the European Union's Markets in Crypto-Assets framework (MiCA), according to Christian Trummer, co-CEO of Bitpanda.

'Most users have more faith in regulated market participants and trust those platforms following the rollout of MiCA,' said Trummer.

He contrasted this with a 'Crypto Twitter' bubble focused on self-custody, saying most users prefer regulated providers rather than managing their own private keys.

'The problem there definitely is that it's not strictly enforced by the regulators, because there are still other players on the market which offer the service to European customers and they don’t comply to the MiCA license,' Trummer noted.