Brussels Crypto Queen Out, Crypto King In?
Some like it crypto but when it comes to taking bribes many prefer cash. This is the story of the latter.
Once upon a time there was a crypto queen. She lived and worked in Brussels. And not just as anyone. Oh, no-no. She was the European Parliament’s Vice-President. She liked crypto and tried her best promoting it. But once her activity became suspicious and authorities decided to tape her. That’s how her downfall began.
This is the story of Eva Kaili – and it’s nothing short of a tragedy. Her glittering career ended last year when the Belgian police raided her home and located €150,000 euros in cash that purportedly came from Qatar lobbyists.
As a result, she and three others have been charged with corruption. Though she’s challenging the legal case against her, things are looking gloomy. Her partner Francesco Giorgi admitted to his part in the scheme. Meanwhile, the ex-member of the European Parliament Pier Antonio Panzeri has confessed to his role in a plea deal with prosecutors. He even claimed that he threw some of the Qatar cash into a dumpster – though Giorgi says otherwise.
To political observers, corruption scandals are nothing unusual. Once in a while a bag of cash or some tax havens are bound to rock the boat. However, Kaili’s story is especially upsetting since she was a) socialist (being bribed isn’t exactly a very socialist thing) and b) loved by the crypto bros.
It is no secret the crypto industry isn’t what the regulators love. While Europe hasn’t launched a crackdown like the US Securities and Exchange Commission did, it still isn’t fully friendly.
The European Union’s Markets in Crypto Assets regulation, MiCA, which is due to take effect in 2024, requires tough compliance and gives very little maneuver to new projects.
Is there a new crypto king?
There’s one figure who seems to be an ardent fan of it. His name is Robert Kopitsch and he’s Secretary-general of Blockchain for Europe which recruits major industry players like Coinbase and Ripple.
He likes to talk about how cryptocurrencies can change the world and is well-connected within the European Commission. He’s one of the organizers of a high-profile get-together, featuring EU officials, the European fintech industry, and key U.S. lawmaking advisers.
Will he be able to influence the lawmakers enough and make Brussels a tad crypto-friendlier place?
Let’s make that rhetorical for now.
Previously, GNcrypto reported about the EU being cautious about launching a CBDC.
