Survey shows that Europeans want their home countries to regulate crypto, not the EU

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A large-scale survey in 12 member states of the European Union found that a majority of Europeans would prefer local governments to create and regulate cryptocurrencies.

Redfield & Wilton Strategies conducted a survey for Euronews and interviewed 31,000 respondents from Estonia, France, Germany, Greece, Hungary, Italy, Latvia, Lithuania, the Netherlands, Poland, Portugal and Spain.

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Against the background of the new crypto laws proposed by the European Commission (EC), the majority of respondents from all nations supported the creation of a national crypto currency. However, the main reason for an in-house token is based on financial independence from the European Union.

Respondents from Greece (40%), Italy (41%) and Estonia (39%) showed the highest support for a national cryptocurrency, while an average of 30% of respondents from other countries supported a national cryptocurrency.

Against this trend, 37% of respondents from the Netherlands opposed the introduction of national crypto initiatives, dwarfing the 18% who supported them.

In addition, almost 60% of the 31,000 respondents would like their national government to set the financial rules and not be dependent on the European Union.

Related: Europe is waiting for the implementation of the regulatory framework for crypto assets

The European Commission is currently trying to implement regulations for crypto assets across the European Union. On September 24, 2020, the European Commission proposed a new digital financial package that contains legislative proposals on how to deal with crypto assets in the member states.

To make the move clear, the Commission stated that “the Commission is committed to promoting responsible innovation in the EU financial sector, particularly for highly innovative digital start-ups, through safer and more digital-friendly rules for consumers”.