In response to last month's vote, 46 European crypto industry leaders and organisations said in their letter that the proposals "will put every digital asset owner at risk" by leading to public disclosure of transaction details and wallet addresses. This would reduce crypto holders' privacy and safety, the letter's organisers said.
The EU is also introducing a wider framework, known as MiCA, to regulate all issuers and service providers in the EU dealing with crypto assets. The European Parliament recently approved its draft of the regulation, which will be negotiated with the EU's executive branch and heads of member states. The letter asked that the EU excludes decentralised projects, which includes decentralised finance or "DeFi", from requirements to register as legal entities. It also said that certain decentralised "stablecoins" should not be subject to the MiCA regulation.read more
CoinShares CEO Jean-Marie Mognetti, who organised the letter, said that Europe currently had more complex crypto regulations than other regions, which deterred businesses from growing in Europe. Diana Biggs, chief security officer at DeFi Technologies, who also organised the letter, said she was keen to increase the influence of the European crypto industry on policymaking in Brussels.Register now for FREE unlimited access to Reuters.comThe Thomson Reuters Trust Principles.Sign up to our tech newsletter to get the latest news and trends in the global technology industry.
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