European Parliament to Elect New Committee Impacting Cryptocurrency Policy

According to BlockBeats, the European Parliament will elect a new European Commission this autumn, which will shape the European Union's cryptocurrency policy for the next five years. Although the new commission will not take office until November at the earliest, some trends can already be predicted regarding its stance on cryptocurrency regulation. Firstly, the political shift to the right in Europe may influence discussions on taxation and innovation approaches. France, facing political instability, is expected to encounter more challenges in the future. Secondly, policymakers will compete for influence over innovation policies, with new members possibly focusing on cryptocurrency policies to enhance their personal reputation. Senior policy advisors within the commission may also vie for power. Thirdly, innovation will be a key policy pillar, with digital privacy and artificial intelligence identified as EU policy priorities. The commission is expected to actively implement the Digital Markets Act and the Digital Services Act. In the market, increased institutional adoption of cryptocurrencies could trigger political intervention, while greater retail investment exposure to cryptocurrencies in the traditional financial sector might also provoke political reactions. The EU has made significant progress in global cryptocurrency policy, and new legislative efforts should ensure the effective implementation of existing rules.