The European Crypto Initiative aims to shape EU regulation to favour open, permissionless, decentralised applications leveraging blockchain technology.
We represent European DeFi and open-blockhain users and companies in a unified voice towards decision makers in the European Parliament.
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<aside> 📢 On 29 June 2022, the Council and the European Parliament reached a provisional agreement on the text regarding the European Commission's proposal - the Transfer of Funds Regulation. On 30 June 2022, the EU policy-makers also reached the agreement on the MiCA proposal.
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<aside> ⚡ On the 31st (31.03.2022) the ECON and LIBE (European Parliament) committees voted on the Transfer of Funds Regulation amendments, confirming the version that are more conservative and limiting the use of self-custodial crypto wallets in EU.
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<aside> ⚠️ We believe that the implications can be significant, as adopting such a restrictive regulation poses unprecendented risk of the EU turning into a crypto industry pariah, which is the exact opposite of what the EU regulators had in mind when they initiated the legislative process.
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<aside> 🔥 AML regulation was not written with Crypto specifics in mind and which not only can be detrimental to the EU industry, but also to the privacy of individuals and the future of monetary freedom.
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<aside> ⛔ The EU is one of the most stringent regulators in this regard and will cause heavy operational burdens on the crypto assets service providers.
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<aside> 🚫 This regulation paints a future without DeFi in Europe. EUCI will do everything to not let this happen.
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