Europeans want internal, not EU, regulation of crypto

According to a recent poll conducted by EuroNews, 60% of Europeans would prefer their own governments to develop crypto regulations instead of the European Union (EU).

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Many of these same crypto supporters also support the creation of central bank digital currencies (CBDCs) to ensure their country’s financial independence from the European Union.

Crypto regulation needs in Europe

The

survey, which polled 31,000 European citizens, was conducted exclusively for EuroNews

by Redfield & Wilton Strategies. It is the largest ever conducted in Europe on cryptocurrencies and financial regulation. The survey was conducted from August 4-10. Respondents were people from 12 EU countries. Including from Germany, France, Greece, Italy, Hungary, Estonia, the Netherlands, Poland, Portugal, Spain, Lithuania and Latvia. Sponsored Sponsored

The survey was in response to the European Commission’s consideration of legislation to create a new EU-wide regulatory framework for cryptoassets

.

Key Findings

A large percentage of respondents from Greece (61%) and Germany (34%) believed that the EU and the European Central Bank (ECB) intervened too much in their country’s economy. On the other hand, participants from Lithuania (41%), Spain (39%) and Portugal (36%) believe that EU interference is fine.

When it comes to cryptocurrency regulation, 76% of Dutch respondents and 70% of Estonian respondents believe that crypto regulations should be developed by their own governments. On the contrary, 36% of Spanish and 30% of Latvian respondents believe that this legislation should come from the European Union.

National CBDCs

The idea of separate national CBDCs emerged specifically to ensure monetary independence from the European Union. However, the idea has received a mixed reaction among respondents, although most of them prefer the idea.

41% of respondents from Italy, 40% from Greece and 39% from Estonia show the highest support for the initiative. However, not all respondents agree with the CBDC idea

. 37% of respondents from the Netherlands were against the idea.

In Germany, there was no certain response to the issue. 30% indicated that they would support CBDC, while 30% would reject the idea. The rest of the population was unsure on the issue.

The ECB has announced that it is actively pursuing the launch of ” e-euro “, a digital currency that would resemble a stablecoin

linked to the euro.

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