According to BlockBeats, on September 5, the European Parliament will elect a new European Commission this fall, which will decide the EU's cryptocurrency policy for the next five years. Although the new commission will not take office until November at the earliest, there are some trends that can predict its attitude towards cryptocurrency regulation.
First, the shift of the European political center of gravity to the right may affect the discussion on taxation and innovation methods. France will face more challenges in the future due to its political instability.
Second, policymakers will compete for influence on innovation policy, new members may seek to enhance their personal reputations by focusing on crypto policy, and senior policy advisers within the committee may also compete for power.
Third, innovation will become a policy pillar, with digital privacy and artificial intelligence identified as EU policy priorities. The Commission is expected to actively implement the (Digital Markets Act) and (Digital Services Act).
On the market side, increased institutional adoption of cryptocurrencies could trigger political intervention, while the exposure of greater retail investment in cryptocurrencies in traditional finance could also trigger political reactions. The EU has made significant progress on global encryption policy, and new legislative work should ensure the effective implementation of existing rules.
