German Lawmaker Stefan Berger Steered Through the EU’s Markets in Crypto Assets Regulation
The European Union is set to make history next year as the first major jurisdiction in the world to implement comprehensive and customized rules for the crypto sector. The law, approved by the European Parliament in April, makes it possible for crypto firms to operate across the EU’s 27 member states if they manage to get authorized in one.
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A key figure behind the making of the landmark law was Stefan Berger, the center-right German lawmaker who negotiated the framework for the European Parliament.
As rapporteur for the Markets in Crypto Assets (MiCA) regulation (meaning he reported on the issue for the parliamentary committee that worked on legislative proposals), Berger was responsible for proposing amendments and running discussions with the Council that gathers member nations’ heads of state.
While skeptics questioned the strength of MiCA against bad actors, he pushed for the quick finalization of the legislation so that Europe will “have rules which rule this type of situation out from the word go.”
A digital euro would require a lot of technical work potentially involving blockchain and have major privacy implications few lawmakers are on board with. Others welcome it as a necessary alternative to private crypto payments. With Berger at the helm, 2024 is shaping up to be another interesting year for crypto policy in Europe.
