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Europeans detest EU crypto laws, member states want more autonomy

Europeans detest EU crypto laws member states want more autonomy

TL;DR

  • Survey shows Europeans don’t like EU crypto laws implemented for all member states
  • European citizens want more crypto transparency and autonomy for member states

According to a recent poll, the majority of European citizens are opposed to an EU cryptocurrency regulation regime being imposed on member states.

The most popular solution among the general public is for each country to have its own cryptocurrency rules, according to a poll conducted by pan-European research firm ICF. This rate is higher than 25% in favor of an EU-imposed regulation.

However, most of the people questioned acknowledged that they were still ignorant about cryptocurrencies and EU crypto laws.

European citizens want autonomy in crypto laws

According to a recent poll commissioned by Euronews, EU citizens are opposed to the adoption of EU-imposed cryptocurrency regulations. According to a poll commissioned by Redfield & Wilton Strategies, a worldwide consultancy firm, 31,000 people were interviewed in 12 major European countries.

According to the poll, most Europeans prefer locally created legislation to a set of EU crypto laws.

According to a recent survey conducted by DIFY, the majority of Germans (61 percent), as well as the majority of Brits (54 percent) and Spaniards (60 percent), believe that their country should issue its digital currency. Furthermore, surprisingly high numbers of citizens would prefer local cryptocurrencies to a digital euro, which indicates that more and more people are warming up to digital currencies.

Europeans detest EU crypto laws, member states want more autonomy 1

Dimitar Likov of the Wilfried Martens Center for European Studies in Brussels shares that a majority of the European population that financial crisis is a result of the decisions undertaken at the European Union level and not by the problems in the national banking sector. However, owing to the EU’s membership with each nation, this is an unattainable objective.

Likov further mentioned that the European Central Bank (ECB) would be in charge of creating the currency. It would work with the eurozone banking system to establish an associated digital euro, which nations that wish to utilize a digital currency could use.

Europeans are still warming up to cryptocurrencies

Most Europeans have only recently heard about bitcoin and similar technologies, according to the poll. People still have a lot of room to learn about cryptocurrencies and their ideas, even during the current crypto asset bull run.

The majority of those who avoided purchasing cryptocurrencies cited a lack of understanding about them as the most common reason.

Gurpreet Thind

Gurpreet Thind

Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.

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