The European Union Parliamentary Elections, taking place next week, could provide further clues on how crypto will be regulated in that market, according to Bitfinex Head of Derivatives Jag Kooner.

"A right-wing shift could lead to stricter crypto controls, while a pro-crypto outcome might accelerate supportive regulations like MiCA," Kooner told The Block.

The Bitfinex analyst said that investors will be watching the EU elections for regulatory clues, which could significantly impact the broader crypto market in June and the following months.

Impact on implementation of MICA framework

Kooner noted that the upcoming EU elections are crucial for shaping the bloc's legislation, particularly the implementation of the Markets in Crypto Assets (MICA) framework. He added that any possible …