Bitpanda co-CEO Christian Trummer stated that following the introduction of MiCA, European users have greater trust in regulated platforms and called for stricter oversight of companies that continue to serve EU clients without meeting regulatory requirements.

Most users choose regulated providers over self-custody

According to Trummer, the majority of users "have more faith" in regulated market participants, while the focus of the "Crypto Twitter" community on self-custody does not reflect the preferences of the broader audience. He noted that many clients prefer to use licensed providers rather than manage their private keys themselves.

MiCA transition period ended by July 1

The transition period for existing crypto service providers ended by July 1, after which ESMA recommended that national regulators take action against unauthorized firms continuing to offer crypto services after their transition deadlines. The regulator also supported strengthening supervisory powers to prevent unauthorized crypto services and offerings from third-country companies without MiCA authorization.