Marina Markezic, director and co-founder of the European Crypto Initiative (EUCI), expressed concerns over the implications of MiCA and AML laws on the development of crypto products. She said that these regulations make building such products “riskier” due to compliance challenges. This statement was made in a January 28 post on X.
“With MICA and especially with AML, building specific products will be riskier because of compliance reasons,” said Markezic. “All the adopted laws are legal, but not all are considered legitimate from the community’s perspective.”
Markezic noted that new regulations under MiCA and AML may pose challenges. She said that compliance obligations will make developing certain crypto products “riskier.” While these laws have been officially adopted, she pointed out that not all are seen as “legitimate” by the crypto community, reflecting concerns over their impact on the industry’s growth and decentralized principles.
According to the European Commission, Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) measures include customer due diligence and adapting legislation to emerging risks like virtual assets. Key initiatives are MiCA, the Traceability of Transfers of Funds Regulation (TFR), and annual risk assessments. The new Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) will centralize supervision and improve law enforcement’s access to financial information for enhanced cross-border investigations.
The European Union states that MiCA establishes uniform rules for crypto-asset issuers and service providers not covered by existing EU laws. It aims to ensure transparency, consumer protection, and market stability, with specific obligations for different types of crypto-assets, including e-money and asset-referenced tokens. The regulation, effective from December 30, 2024, includes provisions on governance, disclosure, and preventing market abuse, with oversight by EU authorities like the European Banking Authority (EBA) and European Securities and Markets Authority (ESMA).
Markezic is known for her focus on crypto regulation as director and co-founder of EUCI. She has worked with crypto projects since 2017, specializing in governance, decentralized finance (DeFi), and non-fungible tokens (NFTs). Known for her expertise in this field, she frequently speaks at blockchain events. Previously leading the advisory team at Cofound.it where she evaluated over 700 whitepapers, Markezic was named one of the top 100 women in fintech by Lattice80 in 2018.
