EU Vote See Reelection of Some Officials With Key Roles in Bloc’s Crypto Journey

In the European Union elections, Stefan Berger, Ondrej Kovarik and Irene Tingali, who played a key role in shaping crypto legislation for the 27-country trading bloc, were re-elected.

A crypto industry participant said the “slight shift to the right” would likely lead to “more focus on competition and growth.”

Characterized by a move to the right, the European Parliament (EP) elections saw the re-election of key figures who played a major role in the trading bloc’s crypto journey.

Voting for 720 members of parliament (EP) started last week and results have started coming from 27 countries since Sunday. Among those repatriated are Crypto-Asset Markets (MiCA) legislation rapporteur Stefan Berger, as well as Ondrej Kovarik and former chair of the Economic and Monetary Affairs Committee (ECON) Irene Tingali.

EU policy leader Mark Foster said: “Berger and Kovarik were rapporteurs on the digital euro and the payment services directive respectively (hence leading the EP work). There is no guarantee they will return to ECON, but there is a possibility they will retain these roles if they do.” A statement at the Crypto Innovation Council told CoinDesk.

“Both were active in MiCA, as rapporteur and shadow rapporteur respectively. Tingali was the chair of ECON. I think she wants to try to continue in that role. The chair’s involvement in all the negotiations in the trilogue was effective,” Foster continued. Tripartite meetings are informal meetings between representatives of the parliament, the European Council and the European Commission on the development of legislation.

Foster said the elections showed the bloc was moving further to the right, although not as much as some had expected. The most extreme moves took place in Austria and France, where President Emmanuel Macron called early elections after nearly doubling the number of seats his center-right group had at the National Rally. In Austria, the Freedom Party will receive more votes than any other party, with 27 percent of the country’s seats.

The largest bloc in the European Parliament remains the centre-right group of the European People’s Party, which has risen from 176 of 705 seats in the previous parliament to an estimated 186 now. The number of Identity and Democracy groups, which hosted both the National Rally in France and the Freedom Party in Austria, increased from 49 to 58. Most left-wing groups have lost their influence.

“A slight shift to the right, with a strengthening EPP and a weakening Green Party, could bring a greater focus on competitiveness and growth over the next five years,” Foster said. “This could lead to a more enabling framework for innovation-friendly policies.”

The story continues

Crypto was not a major theme in the EU elections, but its future will depend on commissioners who can propose legislation. Some members of the crypto community are looking for more blockchain policies, but MEPs cannot propose new legislation, they only shape it and decide. New commissioners will be elected after the EU elections.

Read more: Crypto Remains on the Sidelines as EU Elections Begin