Bitfinex executive: The European Parliament elections next week may hint at the future direction of cryptocurrency regulation

ChainCatcher news, Bitfinex's derivatives head Jag Kooner stated that investors should pay attention to the upcoming EU elections next week for regulatory clues, which could have a significant impact on the overall cryptocurrency market in June and the following months. The upcoming EU elections are crucial for shaping EU legislation, particularly the implementation of the Markets in Crypto-Assets (MiCA) framework. Any outcome that may strengthen populist parties could, in turn, affect regulatory stances, potentially leading to stricter controls or more supportive policies, depending on the composition of the new parliament.

Kooner stated: "A rightward shift could lead to stricter cryptocurrency controls, while a result that supports cryptocurrencies could accelerate the introduction of supportive regulations like MiCA."