Crypto advisor: 'The EU is creating more and more rules' while the US is 'pushing stablecoins'

DLA Piper reports that MiCA mandates Crypto Asset Service Providers (CASPs) to adhere to prudential standards, ensuring competent management and robust internal controls. The TFR, released in June 2023, extends anti-money laundering measures to cryptocurrency transfers by requiring detailed information about originators and beneficiaries. It aligns with Financial Action Task Force (FATF) guidelines and incorporates CASPs into a unified EU regulatory framework under MiCA, eliminating redundant registration requirements.

Marina Markezic, director and co-founder of the European Crypto Initiative (EUCI), highlighted potential challenges posed by new regulations under MiCA and anti-money laundering laws. She indicated that compliance obligations could make developing certain crypto products "riskier." While these laws have been officially adopted, she noted that not all are perceived as "legitimate" by the crypto community due to concerns over their impact on industry growth innovation and decentralized principles.

Georg Brameshuber is also recognized as the co-founder of Validvent and serves as a board member of the Digital Asset Association Austria (DAAA). He holds credentials as a certified tax advisor and Web3 entrepreneur with five years of experience in researching and teaching crypto economics at the University of Vienna. Brameshuber provides advisory services on crypto tax matters and consulting for Web3 startups, according to his LinkedIn profile.