TechFlow news, July 3 — According to Cointelegraph, Peter Märkl, General Counsel at Bitcoin Suisse, criticized the stablecoin regulatory frameworks in both the European Union and Switzerland. Märkl stated that while the EU's Markets in Crypto-Assets (MiCA) regulation provides a "comprehensive and harmonized regulatory framework" for stablecoins, there is still "a lot of work to be done" regarding stablecoin classification and applicable rules, and it disadvantages participants outside the EU.
Regarding Swiss regulation, Märkl said it is unfriendly toward issuers because regulators impose Know-Your-Customer (KYC) obligations on them, requiring stablecoin issuers to identify holders—an obligation he called "unreasonable." He called for greater "focus on stablecoin regulation" and the creation of a "market participant-friendly rule system."
In addition, Märkl revealed that Bitcoin Suisse plans to leverage its registration as a crypto asset service provider in Liechtenstein to apply for a full MiCA license and is exploring expansion into the Middle East, UK, and U.S. markets.
