Peter Märkl, general counsel at Bitcoin Suisse, criticized the EU and Swiss stablecoin regulations as inadequate. Speaking at the German Blockchain Week, he noted that the EU lacks clarity in its stablecoin regulatory frameworks, emphasizing that the MiCA (Markets in Crypto-Assets) regulation, while comprehensive, still has dynamic elements that can shift over time. Märkl pointed out that foreign stablecoin issuers face disadvantages under MiCA, particularly in light of strict enforcement in Germany. Regarding Switzerland, he criticized the KYC (Know Your Customer) requirements imposed on issuers as unreasonable, which adds additional burdens. Despite recognizing the DLT Act as a solid legislative foundation, Märkl called for more focused regulation on stablecoins to support industry players. Bitcoin Suisse aims to expand internationally using its registration in Liechtenstein to pursue a MiCA license and is also exploring opportunities in the UK and US, contingent on regulatory developments.

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