Bitcoin Suisse Exec Laments EU and Swiss Stablecoin Rules
Peter Märkl, general counsel at Bitcoin Suisse, stated that both the European Union and Switzerland lack clear stablecoin regulatory frameworks. He emphasized the need for better classification and rules under the EU's Markets in Crypto-Assets Regulation (MiCA), which, while comprehensive, faces challenges due to the evolving nature of crypto-assets. Märkl noted that foreign stablecoin issuers may be disadvantaged by strict enforcement of MiCA in Germany. In Switzerland, he criticized the KYC requirements imposed on issuers as unreasonable. Despite recognizing the DLT Act as a solid foundation, he called for improved regulations for stablecoins. Bitcoin Suisse plans to leverage its Liechtenstein registration to obtain a full MiCA license and is also exploring expansion into the Middle East, UK, and US, contingent on regulatory developments.
