Eva Kaili arrest a ‘setback’ for EU crypto regulations, economist says

cointelegraph.com:

The arrest of European Parliamentarian and cryptocurrency proponent Eva Kaili has been labeled as a blow to the ecosystem by prominent blockchain industry participants.

Kaili, one of 14 European Parliament vice presidents, was arrested and charged on Dec. 10 by Belgian prosecutors that are investigating allegations of corruption, money laundering and criminal organization involving Qatar and senior policy-makers in Europe.

Belgian police reportedly seized €600,000 in cash as well as computers and cellphones belonging to Kaili and three other individuals involved in the probe. Kaili has since been suspended from the European Parliament, which she’s been a member of since 2014.

Kaili has been a vocal supporter of cryptocurrency and blockchain technology in the European Parliament and has played an important role in providing direction to the governing body’s approach to the sector in recent years.

Erwin Voloder, senior policy fellow at the European Blockchain Association, told Cointelegraph that the allegations against Kaili cannot be downplayed but admits that her arrest removes a much-needed voice to support the cryptocurrency space.

Voloder also highlighted Kaili’s role in leading the DLT Pilot Regime and 2016 Blockchain resolution as well as her role as a Shadow Rapporteur in which she lobbied to elevate blockchain technology during the 2020 InvestEU proposals.

Related: European Parliament members vote in favor of crypto and blockchain tax policies

Kaili also took the reins in an individual drive to explore non-fungible tokens (NFTs) within the purview of European Union’s recently adopted Markets in Crypto-Assets (MiCA) regulations. Veloder said Kaili’s efforts to explore NFTs from a financial services and industrial