How will the EU try to regulate Crypto & DeFi? An Overview of 'MiCAR'

Summer 2020 was dubbed the 'Defi Summer'. The hype around crypto projects such as MakerDAO, Uniswap, Compound, Aave, Sushi etc. exploded immensely after our first meet up on the topic.

(Coinscident? We don't think so.)

After that hype cooled down a bit, partly due to skyrocketing gas fees on the Ethereum network, now Summer 2021 is coming. And it certainly feels like it will be another summer packed with a lot of exciting developments in the crypto space.

One of these developments to watch out for may be less fun than Yield Farming: laws and regulations. Especially, the European Commissions Proposal for a Regulation on Markets in Crypto-assets (MiCAR). This European legislation will impact EU based crypto projects.

How?

In a lot of different ways:

It will establish rules for: The issuance and initial sale of tokens. The content of a projects Whitepapers. The issuance of asset-referenced tokens. It will introduce and regulate e-money tokens. There will also be a regulation of 'insider trading' that projects will have to comply with, just like in the stock markets. And a lot more.

And because of all that paper stuff coming our way, we are glad to have our very special guests for this months Meet Up:

We will welcome the team of the European Crypto Initiative (EUCI). Marina Markezic, Simon Polrot and Florian Glatz are the experts in questions on crypto regulation. And for questions on what such regulation means for projects, devs, users, token holders etc.

The EUCI team is currently on a mission to make sure that Europe doesn't miss out on the oppertunity to build and join a global, more transparent, secure, natively digital, financial market. They are working to improve the proposed crypto regulation, engage members of the European Parliament, the European Commission and the European Council to share and defend their positions. And, to explain what Uniswap is :)
They also work with other initiatives and industry bodies to amplify shared positions and gain support from lawmakers and the broader private sector.

In our Meet Up Marina, Simon and Florian will give an overview of the current proposal for crypto regulation in the EU and we will have a chance to discuss crypto regulation and how it could or should be done!

If you would like to support the team and their efforts check out https://euci.io!

See you in the Meetup!

Cheers!

Nhan, Krystian and Jacob