ADAN: 'The competitiveness of the sector, and therefore national and European sovereignty, is at stake'

ADAN, a European digital assets institution, has called for a regulatory pause to allow for preparation of Europe's Markets in Crypto-Assets (MiCA) regulations. The organization shared its statement on October 9 via the social media platform X.

"Adan calls for a regulatory pause, essential to allow stakeholders to prepare for the entry into force of #MiCA at the end of the year," said . "This pause must be used to clarify existing vagueness, develop the tools and services necessary for compliance, propose alternative solutions to unsuitable or hasty requirements, and not overload the boat, including for stakeholders not affected by MiCA such as #DeFi. The competitiveness of the sector, and therefore national and European sovereignty, is at stake."

In an interview with BFM Crypto, President of ADAN, Faustine Fleuret, highlighted the significance of Web3 companies to France. She advocated for a regulatory pause to enable stakeholders to prepare for MiCA's implementation at the end of the year and to provide clarity and development. Fleuret emphasized the need to alter any "unsuitable or hasty requirements," referencing a general policy speech by Prime Minister Michel Barnier. She said that without sparing Web3 companies, France would struggle to address budgetary and financial challenges or advance major projects outlined in its DPG.