09-30, 15:00–15:45 (Europe/Prague), Studio 2 - Slévárna
This year European Union finally approved a set of legislation headed by the most famous MiCA (Regulation on Markets in Crypto Assets). It will provide a complex regulatory framework for crypto assets for the first time since the invention of Bitcoin. Its aim is crystal-clear: Make the crypto industry a heavily regulated financial sector.
Facing a new reality, all crypto-providers will have to choose their side: Either they will comply, get a license, and will follow a set code of conduct, or will they be penalized and black-listed on the EU market. Moreover, licensed crypto-providers themselves will be strongly incentivized not to cooperate with anyone who will not comply. Any chances for anonymous cryptocurrencies, peer-to-peer marketplaces, or self-hosted wallets..? Maybe, but not for free. They will have to fight for their existence and independence the same way the internet itself did.
As always in regulatory efforts, we can be pretty sure, the last shot is coming. Is it going to be a shot in the air by regulators trying to hide from the fact they failed and gave up? Or rather mercy shot in the back of the head of the free crypto space?
In my lecture, I will attempt to outline the possible development of the expected “war” between regulated and non-regulated crypto spaces. For better visualisation, I will also use the recent weapon memes from the current Russian – Ukrainian war and look for equivalents here.
Radim is the attorney-at-law and proud implementer of parallel polis ideas. In 2017, he co-founded Blockchain Legal, the first and only Czech law firm with comprehensive expertise in the crypto industry and blockchain solutions. He actively participated in Paralelní Polis in Prague, in 2019 as the core member in charge of the Institue of Cryptoanarchy.