MiCA Boosts Trust in Regulated Crypto Platforms Among European Users

Bitpanda co-CEO Christian Trummer has observed that European crypto users are increasingly trusting regulated platforms following the implementation of the European Union’s Markets in Crypto-Assets (MiCA) framework. In a recent podcast, Trummer noted that users now have “more faith” in regulated market participants, contrasting this trend with the crypto community’s emphasis on self-custody. He highlighted that most retail users prefer regulated providers over managing their own private keys.

Trummer also advocated for stricter enforcement of MiCA, pointing out that some companies continue to operate in Europe without the required authorization, placing compliant firms at a competitive disadvantage. “The problem there definitely is that it’s not strictly enforced by the regulators,” he said, referring to unauthorized firms still serving European customers.

The comments come as the EU’s transition period for existing crypto service providers ends no later than July 1, 2026, requiring unauthorized firms to wind down their EU operations. The European Securities and Markets Authority (ESMA) has urged national regulators to take action against firms operating without proper authorization. Regulators are also scrutinizing offshore crypto firms that continue serving European customers, including those exploiting the “reverse solicitation” exemption.