Dea Markova is a Managing Director and head of digital assets at Forefront Advisers.
Europe just elected 702 members of the European Parliament. Some would call the vote a grand exercise of democracy. Others would call it a repurposed opinion poll for domestic politics. The results show that it is a bit of both.The main takeaway is that decisions in the European Parliament will continue to be made by a centrist majority.
The power of the further-right and the far-far-right should not be overstated, but it should not be ignored either. Lastly, the influence of the Parliament, as an institution, should be considered in the context of where we are in the legislative cycle. The next legislative mandate, from 2024 to 2029, will not have a MiCA moment of the same magnitude. Authorities in charge of implementation at the EU and national levels will be doing the bulk of the work for the next two years.
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