EU residents want their countries to regulate the cryptosphere

by in Cryptocurrency News

EU

In a survey of residents of the European Union, researchers found that people want local governments, not Brussels, to handle crypto regulation.

The survey conducted by Redfield & Wilton Strategies for the Euronews TV channel included respondents living in Greece, France, Estonia, Germany, Hungary, Latvia, Italy, Lithuania, Poland, Portugal, the Netherlands, and Spain. A total of 31,000 people were interviewed.

The European Commission, which acts as the EU government, has previously announced several initiatives to legalize relations in the cryptocurrency industry. However, most of the residents of the union want this market to be controlled not by the central authorities of the EU but by the regulators of each state.

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In parallel, analysts have recorded the growing interest of people in national digital currencies (CBDC). About 40% of residents of Italy, Germany, and Estonia believe that their states will only benefit from the launch of their tokens. In the rest of the countries, approximately 30% of respondents support the CBDC concept.

More than 60% of those surveyed believe their national governments should be in control of the digital asset market. Cryptocurrency legislation should be developed individually in each state of the union, and it should be independent of Brussels, according to the survey participants.

Residents of many countries want their authorities to regulate the blockchain sphere. For example, almost 54% of South Koreans supported the cryptocurrency holder tax bill, which will come into force in January 2022.