The legal chief of Bitcoin Suisse pointed out the flaws in the regulation of stablecoins in the EU and Switzerland.

According to a report by Cointelegraph on July 3, Deep Tide TechFlow news, Bitcoin Suisse's legal counsel Peter Märkl criticized the shortcomings of the stablecoin regulatory frameworks in both the EU and Switzerland. Märkl stated that while the EU's Markets in Crypto-Assets Regulation (MiCA) provides a "comprehensive and unified regulatory framework" for stablecoins, there is "still much work to be done" regarding the classification and applicable rules for stablecoins, which is disadvantageous for participants outside the EU.

Regarding Swiss regulation, Märkl believes it is unfriendly to issuers because the regulatory authority imposes Know Your Customer (KYC) responsibilities on issuers, requiring stablecoin issuers to understand the identities of holders, a requirement he considers "unreasonable." He calls for "attention to stablecoin regulation" and the provision of a "rules system friendly to market participants."

In addition, Märkl revealed that Bitcoin Suisse plans to apply for a full MiCA license using its registration as a cryptocurrency asset service provider in Liechtenstein and is exploring entering the markets in the Middle East, the UK, and the US.