Peter Märkl, general counsel at Bitcoin Suisse, criticized both EU and Swiss stablecoin regulations as inadequate and burdensome.
Peter Märkl, general counsel at Swiss crypto exchange Bitcoin Suisse, said the European Union and Switzerland lack clarity in their respective stablecoin regulatory frameworks.
Märkl told Cointelegraph on the sidelines of the German Blockchain Week that “there’s a lot to be done” when it comes to the classification and the rules applying to stablecoins under the EU’s Markets in Crypto-Assets Regulation (MiCA) framework.
He said MiCA provides “a comprehensive, harmonized regulatory framework” for stablecoin issuance, offering and custody. However, “due to the rapidly evolving nature of crypto-assets and their use cases, classification remains dynamic and can, in certain cases, shift over time,” Märkl added.
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