According to a survey, Europeans prefer that crypto be regulated by their individual countries rather than the EU.

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A recent poll on European cryptocurrency policy drew 31,000 responses from people in 12 European Union member countries.

A large-scale poll conducted across 12 European Union member states indicated that the majority of Europeans would rather that cryptocurrencies be created and regulated by local governments.

Redfield & Wilton Strategies carried out a survey for Euronews, polling 31,000 respondents from Estonia, France, Germany, Greece, Hungary, Italy, Latvia, Lithuania, the Netherlands, Poland, Portugal and Spain.

Against the backdrop of the European Commission’s (EC) proposed new crypto regulations, the vast majority of respondents from all countries favoured the development of a national cryptocurrency. The primary purpose for an in-house token, on the other hand, is to obtain financial independence from the European Union.

Respondents from Greece (40%), Italy (41%), and Estonia (39% ) indicated the most support for a national cryptocurrency, while an average of 30% of respondents from other nations supported a national cryptocurrency.

In contrast to this trend, 37% of Dutch respondents opposed the start of national crypto projects, much outnumbering the 18% who supported it.

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Furthermore, approximately 60% of the 31,000 respondents prefer that their national authorities set financial regulations rather than the European Union.

The European Commission is now working to enforce crypto asset laws across the European Union. On September 24, 2020, the European Commission submitted a new digital finance package that includes legislative measures for the handling of crypto assets in member states.

Providing clarity to the move, the EC stated that “by making rules safer and more digital friendly for consumers, the Commission aims to boost responsible innovation in the EU’s financial sector, especially for highly innovative digital start-ups.”

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