Europe: Where is the crypto lobby?

No items found.

Thursday, November 10, 2022

While the industry continues to grow, it is still struggling to make a real impact in Brussels.

‍

A financial problem?

Lobbying is also an expensive business. Several European trade unions such as the European Crypto Initiative (EUCI) are trying to make an impact, but their resources do not allow them to do much more than reports and analyses. "Simon Polrot, director of the EUCI, explains: "With our current resources, we can't do all the groundwork needed to convince politicians. By way of comparison, Meta spends several million euros each year on lobbying at European level. Mark Zuckerberg's group alone has more than 10 people in Brussels who have lunches and make contact with the circles of power 🚀.

So what's the solution? Some are arguing for companies in the sector to give more. "There's already money out there," brushes off the head of a major French group. But the initiatives are too fragmented, with structures in France, Italy, Germany...

"The unions need to get together", explains Dimitrios Psarrakis, who became a lobbyist in Brussels with the GBBC Digital Finance after working as an adviser to the Commission on MiCA. The only question is under what umbrella.

‍

This analysis is not investment advice. It has been prepared without taking into account your personal situation, particularly your financial situation, risk profile, and investment objectives.

Before investing in any product, investors should fully understand the risks involved and consult their own legal, tax, financial, and accounting advisors.

Tokens in this article

No items found.

Projects in this article

No items found.

In this category

United States: SEC Chair wants to move Wall Street onchain

United States: SEC Chair wants to move Wall Street onchain

United States: SEC Chair wants to move Wall Street onchain

Genius Act and Clarity Act: The United States adopts 2 historic pieces of legislation on cryptos

Genius Act and Clarity Act: The United States adopts 2 historic pieces of legislation on cryptos

Genius Act and Clarity Act: The United States adopts 2 historic pieces of legislation on cryptos

Stablecoins: the United States adopts the GENIUS Act, what you need to know

Stablecoins: the United States adopts the GENIUS Act, what you need to know

Grégory Raymond

Stablecoins: the United States adopts the GENIUS Act, what you need to know