Upcoming regulations in the EU would nave a significant impact on the ability for companies, projects and any form of service provider located in the EU or targeting the EU to grow, scale and compete.
Competition in financial services, market participants (exchanges, brokers, etc.), decentralized blockchain ecosystems, DAOs, DEXs, stablecoins, web3 and - ultimately - the financial inclusion of millions, potentially billions of people are at stake.
In the current proposals, there are a few key issues we aim to resolve, in particular:
- Ban or hard time for most decentralized use cases/tokens ;
- Disproportionate obligations (esp. for stablecoins, incl. prohibition of serving interests!, own fund requirements up to 3% of reserve assets) ;
- Inadequate burdens not reflecting the reality of the threats and risks thus halting the growth of financial innovation.
(See our detailed document: here)