European crypto users are showing greater confidence in regulated platforms since the European Union introduced its Markets in Crypto-Assets framework, according to Christian Trummer, co-CEO of Austria-based exchange Bitpanda. He also urged regulators to act more firmly against companies that continue serving EU customers without the required authorization.
MiCA shifts user preferences
Speaking on Cointelegraph’s Chain Reaction, Trummer said users generally have “more faith” in market participants operating under MiCA. He argued that the framework has strengthened trust in regulated crypto businesses and their platforms.
Trummer contrasted this trend with the image of the crypto market often associated with “Crypto Twitter,” where self-custody and personal control of private keys receive significant attention. In his view, that online focus does not fully reflect the preferences of most users, who would rather use regulated providers than manage their own keys.
Self-custody means holding the private keys needed to control crypto assets directly, rather than keeping them with an exchange or another service provider. Regulated platforms, by contrast, operate within a formal legal framework and are subject to the requirements that apply in their jurisdiction.
Enforcement remains a concern
Although Trummer said MiCA has improved confidence in compliant firms, he argued that uneven enforcement is creating a competitive problem. Some businesses, he said, continue to offer services to European customers without complying with the framework or obtaining a MiCA license.
That situation can leave firms that have followed the rules competing with providers that do not face the same compliance obligations. Trummer called for stricter action by regulators to address those companies and ensure the framework is applied consistently.
MiCA is the EU’s regulatory framework for crypto-asset markets. It establishes rules for crypto-asset service providers and other parts of the sector, including requirements linked to authorization and supervision. The framework is intended to provide a common regulatory structure across the bloc.
Transition period has ended
The grandfathering period for existing crypto service providers ended no later than July 1. Following that deadline, the European Securities and Markets Authority directed national regulators to act against unauthorized firms that continued providing crypto services after their applicable transition period.
ESMA has also called for stronger supervisory powers to deal with unauthorized crypto services and companies based outside the EU that solicit European investors without MiCA authorization. The issue therefore extends beyond the conduct of individual exchanges: it also concerns how effectively national authorities can enforce a single set of rules across a cross-border market.
Market picture: Moneyiar data
Moneyiar data at the stated times showed mixed performance among the four tracked crypto assets on October 3, 2026:
- Celestia (TIA): $0.4467719594, down 3.15% over 24 hours and 8.51% over seven days, as of 09:08 +03:30.
- Compound (COMP): $24.6656050292, up 0.88% over 24 hours and 3.03% over seven days, as of 09:08 +03:30.
- Telcoin (TEL): $0.0019535213, down 10.18% over 24 hours but up 20.89% over seven days, as of 09:09 +03:30.
- Four (FORM): $0.2804553801, down 4.77% over 24 hours and 11.15% over seven days, as of 09:09 +03:30.
These figures cover selected assets and do not measure overall confidence in regulated crypto platforms.
