For sure it will have an impact especially that they are also a big market for Bitcoin. But for sure that we can get over with it since even if they won't like to add it on their reserve or have a circulation in their country Bitcoin would still succeed since there are still lots of countries would going to support it. USA presence is big thing and for sure that it can gather more attention also support.

That's the reason on why we see Bitcoin performing good and also reach its new high because demand still high despite of the decision of EU to avoid dealing with Bitcoin. But for sure they won't ban it but rather they would just put strict regulation so that they maybe can do something with situations happening in related to this matter.

Yes, they are not the only country but they contribute significantly to the world economy with a GDP of $120 trillion, of which they account for $19 trillion. They are not the only ones in the industry but they are the biggest in any industry and bitcoin is no exception.

Bitcoin may have grown to this day without the support of the EU or any government, but don't forget, the US and EU have never banned it in the past. If they ban it, don't expect bitcoin to be where it is today.

According to the article: Europe leads the market in terms of global cryptocurrency transaction value, accounting for 37.32% so it would be incorrect to say that they cannot do anything about the crypto industry.


https://cointelegraph.com/news/crypto-trading-volume-2024-europe-leads

@op, I don't think the main intention of the EU is to ban Bitcoin. Even if they do, there will be lots of defaulters because the ban will not be completely effective. The EU just wants an open and transparent system where they can identify every crypto user and exert control where applicable, just like every other government wants to. The aftereffect of this will be a strict regulatory environment, which will be unconducive for crypto investors.

But with the way some governments are already embracing crypto, I doubt that the EU will be able to sustain this crypto ban forever. At some point in the future, they might become a bit more flexible with their crypto regulations.