Europe

The European Parliament is set to establish a new European Commission, and it will determine the next five years of crypto policy for the European Union.

It’s an election year around the globe, and the European Union is no exception. The European Parliament will vote this autumn on a new European Commission, which converts political priorities into draft legislation.

The new commission will not take office until November at the earliest, so it is still too early to assess the impact of the class of 2024 on cryptocurrency policies. However, we can identify a few trends predictive of how the fresh lawmakers are likely to handle regulation.

The first trend is that Europe’s center of gravity is moving to the right, and this will impact businesses of all sizes. Taxation and approaches to innovation will be subject to debate. France in particular will have a bumpy ride forward due to rising instability and its uncertain political future. It’s tied to the parliamentary election, and it’s something crypto companies should note.

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