EU Legislator Compares Cardano to a Rocket

After meeting with the CEO of the Cardano Foundation, Stefan Berger, a member of the European Parliament and the rapporteur of the EU’s historic crypto regulation MiCA, lauded Cardano (ADA), the long-standing Layer 1 network that just completed its Vasil hard fork update.

Dr Stefan Berger, a member of the Christian Democratic Union (CDU), has remarked on Cardano’s market expansion.

Berger said on Twitter that Cardano is a “rocket” in the cryptocurrency sector. He also highlighted that part of his conversations with Cardano Foundation CEO Frederik Gregaard were on the Markets in Crypto Assets Regulation of the European Union (MiCA).

The regulatory package addresses a large array of crypto-related topics, including the legal status of all major currencies and stablecoins, as well as the regulation of cryptocurrency mining and trading platforms. Berger was not only responsible for crafting the statute in committee, but also for incorporating compromise changes and resolutions.

This month, European Union legislators voted decisively in support of the momentous new crypto laws. The legislation will go into force between 12 and 18 months following its publication in the bloc’s official journal, which will likely occur in the spring of next year.

In a tweet after the meeting, Cardano’s Gregaard described the German lawmaker as a “passionate and engaged policymaker” who asked insightful questions about Cardano and is committed to helping the expansion of blockchain applications throughout the European Union.

The capitalization of crypto markets increased by 6.78% during the last 24 hours, as bitcoin surpassed $20,000 for the first time since the beginning of October.

This week, Ethereum, the second-largest cryptocurrency in the market, is also exhibiting bullish vigour. The price of the currency has increased by 13.10% over the previous 24 hours, breaking out of the narrow trading range that has characterised its price activity over the past several weeks.

Even more amazing is ADA’s price increase, as the eighth-largest cryptocurrency soared as high as 14.38% on the day, trading at $0.4045 at press time. Notably, the most recent price movement occurred after prominent market analysts said that Cardano’s ADA coin was grossly undervalued. ADA bulls have emerged in force, indicating that prices might rise if present purchasing activity persists.

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