Jose Manuel Campa, chairman of The European Banking Authority (EBA), has said that the regulator is experiencing a shortage of employees who are needed in the work of oversight of the cryptocurrency industry.
He has said that one way to solve this “serious problem” is a high salary. However, the issue “is not included in the range of possible discussions” between the EBA and the European Commission.
Another key difficulty according to him is the too slow formation of the regulatory framework, which does not keep pace with the development of the industry. Campa has acknowledged that prior to the entry of extensive regulation in 2025, cryptos can experience a great transformation.
The Council of the European Union and the European Parliament tentatively agreed earlier this month on the provisions of the MiCA cryptocurrency regulation bill.