Summary
- Portugal has a small but active contingent of MEPs focusing on crypto, and who are involved in policy research and internal EP decision-making.
- Meanwhile, Romania has a greater number of MEPs, but shows only limited interest in crypto-related issues.
Portuguese crypto interest is significant
Portugal has 21 MEPs, the bulk of whom sit in the EPP group (seven MEPs) and the S&D group (nine MEPs). The Portuguese contingent on the Economic and Monetary Affairs (ECON) committee is significant with five MEPs (three S&D, one EPP and one Left).
Also noteworthy is the fact that the former prime minister António Costa (2015-2024) was previously an MEP and EP vice-president, underscoring the importance of European experience in domestic, national politics in some EU Member States.
When it comes to digital assets policy, two prominent, but unrelated, Portuguese MEP stand out: Lídia Pereira (EPP vice-chair) and Pedro Silva Pereira (S&D EP vice-chair).
Pereira penned an EP own-initiative (non-binding) report in 2022 on the impact of new technologies on taxation: crypto and blockchain. This explored the potential of technologies like blockchain to better serve taxpayers, deter corrupt practices, empower tax administrations and tackle tax fraud and evasion as well as highlighting taxation challenges regarding crypto assets. She has also been active in payments legislation, where she was EPP shadow rapporteur on the PSD/PSR package.
Silva Pereira was rapporteur for the 2023 European Single Access Point (ESAP). From 10 July 2027, ESMA will establish and operate the ESAP, which will provide the public with easy, centralized access to information about entities and their products in relation to financial services, capital markets and sustainability.This regulation also covers crypto assets and exchanges within the scope of MiCA.
If the recent domestic election results are an indicator, it seems the EPP-affiliated Democratic Alliance could come out on top; it has a slim lead (30% against 29%) over its S&D-affiliated Socialist Party rivals. This could see the EPP gain a seat at the S&D’s expense. The other party to watch is ID-affiliated ‘Chega’ (translation: Enough) – a 2019-established national conservative, right-wing populist party, which is currently polling at 18%, and will likely see a handful of far-right Portuguese MEPs elected for the first time.
Romania shows some limited interest in crypto
With 33 MEPs, Romania has the sixth-largest representation in the outgoing EP. Its current contingent is concentrated in the traditional, center parties, with 14 sitting in the EPP, nine in the S&D and seven MEPs in Renew.
There are four Romanian ECON MEPs, none of whom have been very active on crypto-related files, except for Dragoş Pîslaru who, alongside his role as chair of EMPL, was Renew shadow for the AMLR.
Arguably the best-known Romanian MEP is Dragoş Tudorache who came to prominence as co-rapporteur for one of the biggest pieces of legislation in this term – the Artificial Intelligence Act.
In terms of the polls it looks like the S&D-affiliated Social Democratic Party is likely to win, currently polling at 30%, ahead of the EPP-affiliated National Liberal Party, which is on a par with the ECR-affiliated Alliance for the Unity of Romanians, both at 19%. With the liberal parties splitting, it seems the biggest changes will be increases for the S&D and ECR at the expense of losses for the EPP and Renew.
