According to online reports, according to Cointelegraph, Peter Märkl, general counsel of Bitcoin Suisse, criticized both the EU and Switzerland's stablecoin regulatory frameworks for shortcomings. Märkl said that although the EU's Cryptocurrency Asset Market Regulation Act (MiCA) provides a "comprehensive and unified regulatory framework" for stablecoins,"there is still a lot of work to be done" on the classification and application of stablecoins, and it is detrimental to participants outside the EU. Regarding Swiss regulation, Märkl believes it is unfriendly to issuers because regulators impose a know-your-customer (KYC) responsibility on issuers and require issuers of stablecoins to understand the identity of holders, a requirement that this requirement is "unreasonable." He called for "focusing on stablecoin regulation" and providing "a rule system that is friendly to market participants." In addition, Märkl revealed that Bitcoin Switzerland plans to use its registration status as a crypto-asset service provider in Liechtenstein to apply for a full MiCA license and is exploring entry into the Middle East, UK and US markets.