micapass

In a bear market, regulatory clarity becomes even more crucial for the crypto space. With decreased market activity and investor sentiment low, clear and consistent regulations can help build trust and stability. Governments should focus on frameworks that encourage innovation while protecting consumers. Overregulation could stifle growth, but a balanced approach will provide long-term benefits, attracting institutional investors and laying the foundation for the next market cycle.

The UK Just Dropped a huge paper on DAOs and they nailed it! The Law Commission did a 289-page (yep, it's 289 pages, you got that correctly) report on DAOs and I read it all in detail 😎, so you don't have to. Here’s the summary: 1. Decentralization & Autonomy: They nailed it—DAOs disperse power, avoiding central control. But many DAOs aren't as decentralized or autonomous as they claim. 2. Hybrid & Digital Legal Entities: Mixing smart contracts with legal structures. This is where traditional law meets innovation. 3. Governance Tokens: These tokens give you a voice and a stake—regulation is catching up fast. 4. Principle-Based Regulation: Same risk, same rules. Expect crypto to be treated like traditional finance soon. 5. Privacy vs. AML: Tech like zero-knowledge proofs could balance privacy and regulation. Huge news for the crypto industry. 6. No More BS Promotions: Honest, clear marketing is a must—dodgy practices will face harsh penalties. 7. Transparency: DAOs push for operational transparency—key to building trust in the crypto world. 8. Tech-Neutral Laws: Legislation should be tech-neutral, allowing innovation to thrive. Next Steps: The UK might introduce a limited liability model for DAOs and review company laws to better align with digital entities. What do you think? Did UK finally get something right? Is this the beginning of a new era for DAOs? Let me know in comments! 👇 If you want the 289-page paper, write me “DAO UK” In comments and I’ll DM it to you. Follow 👉 Anton Golub & share ♻️ with your network

🇪🇺 The European Securities and Markets Authority (ESMA) has identified five categories of smart contracts in its latest paper, helping regulators better understand the complexities of DeFi and assess risks to investors and financial stability. The categories are: - Financial - Operational - Token - Wallet - Infrastructure The paper also warns about "illicit smart contracts," which can be used for scams like Ponzi schemes, often aggressively promoted to users. Looking for a way to manage DeFi risks? Micapass offers advanced monitoring tools—book a demo today. Read more: https://lnkd.in/dEZGMYZK

📣 #MiCA CLASSIFICATION of assets. The three European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) today published a consultation paper on Guidelines under Markets in Crypto-assets Regulation (#MiCA), establishing templates for ➡️explanations and legal opinions regarding the classification of crypto-assets along with a standardised test to foster a common approach to classification in the following cases: 🔹Asset-referenced tokens (#ARTs): The white paper for the issuance of ARTs, which contains comprehensive information about the crypto asset, must be accompanied by a legal opinion that explains the classification of the crypto asset – in particular, the fact it is not an #EMT nor a crypto-asset that could be considered excluded from the scope of MiCA 🔹Crypto-assets that are not ARTs or EMTs under MiCA: The white paper for the crypto-asset must be accompanied by an explanation of the classification of the crypto asset – in particular, the fact it is not an EMT, ART or crypto-asset excluded from the scope of MiCA. 📌 https://lnkd.in/eV8vgtwZ

Navigating the complex world of crypto and stablecoin regulations can be challenging. With diverse terminologies and varying implementations across jurisdictions, clients often ask us which regulatory framework to choose: US or EU. The answer? It depends on several factors, including your business model, main stakeholders, customer base, and ability to meet specific regulatory requirements. Top 3 of the most frequent questions from crypto business owners are practical ones: time, money, and KYC/AML rules. Time: - US: The process tends to be more prolonged and strict, often taking anywhere from 6 months to a year. - EU: Depending on the country within the EU, the approval process may be faster, typically taking between 30 to 60 days. Costs: - US: Higher costs due to stringent regulations and higher legal fees. - EU: Generally lower costs. AML/KYC Requirements: - US & EU: Mandatory. Despite different terminologies, the fundamental requirement is the same: staying away from sanctioned transactions is crucial, as sanctions are global by design. This is essential in running any type of crypto business, and we have a solution for it. Get micapass today, and stop worrying about tomorrow! For more information, check out  FIS insights document https://lnkd.in/gRR7Ak-n .

At the end of last week, I attended four different events: networking at ROCKIT Vilnius, chit-chatting at the FIRSTPICK event, pitching at Blockchain Founders Group (BFG), and finally pitching again at Plug and Play Tech Center EXPO day, where micapass took 3rd place in the pitch competition.   In between, I had the chance to get to know and talk to Plug and Play Managing Partner Seena Amidi, Minister of Economy & Innovation Ausrine Armonaite, and many other not-so-famous but equally interesting people.   My takeaway is simple: do not attend as a startup seeking investment. Attend as a person seeking to have fun while doing a startup. If you enjoy what you do it means you are passionate about it. If you are passionate about it – it's only a matter of time before you'll get the right attention.   So the game is simple – will you run out of passion or they will run out of arguments to say "not yet". 

Much depends on crypto regulations in the American presidential election. They are not so different if you look deeper. The conclusion: Biden: • Pros: Clearer regulations could lead to mainstream acceptance. • Cons: Stricter rules might stifle innovation. Trump: • Pros: Lax regulation could boost short-term growth and innovation. • Cons: Lack of clear rules might deter institutional investors.

🤝 We are thrilled to announce our partnership with Byzantine Finance! 👉 Byzantine Finance is the first diversifiable, white-label restaking aggregation infrastructure. 📊 With this partnership we aim to create a safer blockchain economy through crypto #AML compliance, blockchain analytics, and illicit asset tracing. ⚙️ Micapass is on a mission to ensure full compliance in #web3, and our partnership with Byzantine brings us a step closer to achieving this goal.

Last year, we were hunting for investment in the Baltics. We got it, made a push, and are happy with what we have. The next round begins now. We’ll pitch at the Blockchain Founders Group (BFG) Season 5 Demo Day on 20 June! 🤞 #web3 #startup #entrepreneur

Crypto-asset service providers (#CASPs) must adapt to new regulations like the Transfer of Funds Regulation (#TFR) and Markets in Crypto-Assets (#MiCA). In this article, our CEO Gintarė Košubienė, and Tavi Petros from ECOVIS ProventusLaw share thoughts about this issue. This article highlights the need for real-time #AML monitoring, detailed transaction data collection, and verification of self-hosted wallets to ensure compliance and enhance transparency in the evolving crypto ecosystem.