Majority of Europeans Support Local Governments as The Sole Crypto Regulators Instead of The European Union

2021-09-01 22:33:15

The latest research by Redfield & Wilton Strategies, shows that majority of Europeans support local government crypto regulations, instead of the European Union. The survey by Redfield & Wilton Strategies is on the behalf of Euronews, and targets citizens from 12 EU member countries.

Specifically Spain, Portugal, Netherlands, Germany, France, Italy, Poland, Lithuania, Latvia, Greece, Hungary and Estonia. Consequently, a total of 31.000 subjects were part of the survey. And the numbers speak for themselves.

 

Out of the 31.000, almost 60% wish for local governments to set the cryptocurrency regulations. Moreover, three countries show highest percentage when it comes to supporting crypto. Those are Estonia (39%), Greece (40%) and Italy (41%). And if you consider that the average support from the other countries is around 30%, these numbers are quite favorable.

As oppose to Netherlands, the only country where citizens are against national crypto regulations. Specifically, 37% of Dutch citizens are against, while only 18% are pro national crypto regulations.

Regardless of the numbers, one thing is certain. The majority of European Union is against the idea of the European Commission (EC) regulating cryptocurrencies. One of the biggest reasons for that is the desire from many members to regain certain economic freedom. Or to be even more specific, to not depend on the mercy of the Union or other member states.


However, the European Commission seems to not pay attention to this public opinion. As a matter of fact, the EC is currently on a mission to fully regulate the entire European Union. According to the Commission, the entire procedure is for the purpose to increase the safety of the users. This is what the Commission had to say in an official statement:

By making rules safer and more digital friendly for consumers, the Commission aims to boost responsible innovation in the EU’s financial sector, especially for highly innovative digital start-ups.European Commission Official Statement

Whatever the situation, it is very clear that Europeans wish for their own governments to conduct local crypto regulations. Yet, we can only wait and see if the EC will listen to the voice of the people.

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