Bitcoin and Altcoin Investors Have Their Eyes on the EU Elections

Cryptocurrency investors are waiting for the decision of the European Union next week.

The elections to be held in the European Parliament next week may shape the cryptocurrency market.

According to Bitfinex Derivatives Manager Jag Kooner, the election results will determine how the cryptocurrency markets will be regulated.

Kooner said, “If there is a shift towards the right wing, cryptos can be more tightly controlled, and a crypto-supporting result can provide support for supportive regulations such as MiCA.”

According to Kooner, if populist parties win the election, it could lead to stricter supervision of the cryptocurrency market.

Kooner said, “The upcoming elections are critical for the MiCA regulation to come into force. MiCA aims to create a common framework across the EU by providing legal clarity for cryptocurrencies and attracting more investment. "These elections will determine how quickly these regulations will come into force," he said.

Elections in the European Parliament are planned to be held on June 6-9. This will be the first election after Brexit.