According to Bitfinex’s Head of Derivatives, Jag Kooner, the upcoming European Union Parliamentary Elections, slated for next week, could shed light on how the crypto industry will be regulated in that particular market.
Kooner stated that a shift towards right-wing parties in the elections could result in stricter measures for the crypto industry, while a shift towards pro-crypto parties could lead to the acceleration of supportive regulations such as MiCA.
The Bitfinex analyst believes that the outcome of the EU elections will be closely monitored by investors, as it could significantly impact the crypto market in the month of June and onwards.
In particular, Kooner highlighted the importance of the elections in shaping the EU’s legislation, especially when it comes to implementing the Markets in Crypto Assets (MiCA) framework.
