According to CoinDesk, the recent European Union election has resulted in the re-election of Stefan Berger, Ondrej Kovarik, and Irene Tingali, who have been instrumental in shaping crypto legislation for the 27-nation trading bloc. The election, which has been marked by a shift to the right, has seen these key figures return to their roles.
The election process for the 720 members of the European Parliament (MEPs) began last week, with results gradually emerging from the 27 nations since Sunday. Among those re-elected are Stefan Berger, the rapporteur for the Markets in Crypto Assets (MiCA) legislation, Ondrej Kovarik, and Irene Tingali, the former chair of the Committee on Economic and Monetary Affairs (ECON).
Mark Foster, the EU policy lead at the Crypto Council for Innovation, stated that Berger and Kovarik led the European Parliament's work on the digital euro and payment services directive respectively. While there's no guarantee they will return to ECON, if they do, they are likely to retain these roles. Both were also active on MiCA, as rapporteur and shadow rapporteur respectively. Tingali, as the former ECON chair, is expected to try to retain her influential role.
The election saw a shift to the right within the bloc, although not as extreme as some had anticipated. The most significant changes occurred in Austria and France. In Austria, the Freedom Party is expected to win 27% of the nation's seats, more than any other party. The largest block in the European Parliament remains the center-right grouping of the European People's Party, which has grown from 176 of the previous parliament's 705 seats, to a predicted 186 now.
Foster noted that the slight shift to the right, combined with a strengthened European People's Party and a weakened Green Party, may result in a greater focus on competitiveness and growth over the next five years. This could lead to a more enabling framework for innovation-friendly policies. While crypto has not been a central theme in the EU elections, the future of crypto will be determined by the commissioners who can propose legislation. Some members of the crypto community are hoping for more blockchain policies, but MEPs can only shape and decide on legislation, not propose it. New commissioners will be selected following the EU election.