Bitpanda Co-CEO Says European Crypto Users Trust Regulated Firms More Under MiCA

Christian Trummer, co-CEO of Austria based exchange Bitpanda, says European crypto users have gained confidence in licensed platforms since the EU’s Markets in Crypto Assets framework took effect. Speaking on Chain Reaction, he said most users have “more faith” in regulated market participants. He set that against what he called a “Crypto Twitter” bubble obsessed with self-custody, noting that most people would rather rely on a regulated provider than manage their own private keys.

Call for Stricter MiCA Enforcement

Trummer also pushed regulators to enforce the rules more firmly. He said some companies still serve European customers without a MiCA license, which puts compliant firms at a disadvantage. In his view, the weak point is that regulators are not applying the framework strictly enough.

ESMA Moves Against Unauthorized Crypto Firms

MiCA’s grandfathering period for existing crypto service providers ended no later than July 1. ESMA told national regulators to act against unauthorized firms that kept operating after their transition period. The authority has since asked for stronger supervisory powers to tackle unauthorized services and third-country companies soliciting EU investors without MiCA authorization.