Bitcoin-friendly European Parliament Member Sarah Knafo says Europe is still at the beginning of the digital revolution, which will help it compete with economies like China and the US.
Europe News
Europe is a continent comprising the westernmost part of Eurasia. According to the United Nations, there are 44 countries in Europe, of which 27 are members of the European Union. The EU has the world’s third-largest economy by gross domestic product, or GDP, and purchasing power parity.
Europe is also a burgeoning hub for cryptocurrency innovation. Several European nations have embraced cryptocurrency, fostering a crypto-friendly environment within the region. Regulatory frameworks, such as the Markets in Crypto-assets Regulation (MiCA), have been proposed by the European Union to standardize crypto regulations across member states. These regulations aim to provide clarity and security to investors and businesses operating in the crypto space.
Liechtenstein, a small European country, introduced a new blockchain law that allows seamless tokenization of assets and rights, eliminating the need for legal workarounds. This enhances the country’s ability to legally host various digital tokens. Countries like Switzerland and Estonia have also gained recognition for crypto-friendly policies.
Switzerland, often dubbed “Crypto Valley,” hosts numerous blockchain startups and cryptocurrency companies due to its favorable regulations and supportive government initiatives. Estonia, on the other hand, offers e-residency programs, attracting digital entrepreneurs and blockchain businesses from around the world. Additionally, Malta boasts progressive cryptocurrency regulations, positioning itself as the “Blockchain Island” and a global hub for digital asset innovation and businesses.
Europe’s proactive approach toward cryptocurrency regulation and its rich technological infrastructure position the continent as a prominent player in the global crypto landscape, encouraging innovation and investment in the digital asset sector.
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Bybit has received regulatory approval under the EU's MiCA framework and has opened its European headquarters in Vienna.
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Decentralized exchange Hyperliquid has submitted formal comments to the US CFTC supporting 24/7 perpetual derivatives trading.
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Tether rejects the EU’s MiCA rules, arguing that they threaten financial stability and privacy and detract from serving users in high-need regions like Turkey and Nigeria.
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Crypto.com has secured a MiFID license to offer regulated crypto derivatives in the European Economic Area, expanding its presence in Europe following earlier MiCA approval.
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Backpack allows former FTX EU users to reclaim euro balances after KYC verification, following its acquisition of the bankrupt crypto platform's EU arm.
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