INATBA: “Regulation of cryptocurrencies in the EU will hinder innovation, but will eliminate fraud " – Bits Media

According to the Inatba survey, Most cryptocurrency firms consider, that the bill to regulate cryptocurrencies in the European Union (MiCA) It will interfere with the development of innovation, but will reduce fraud volumes.

International Association for the Development of Reliable Appendices for blockchain (INATBA) conducted a survey 44 heads of cryptocurrency firms and startups, To find out their opinion on the Mica bill. Unofficial version of Mica, proposed by the European Commission, appeared on the network last fall. The bill contains the rules for the release and turnover of digital assets. Primarily, It is aimed at protecting users and investors. Judging by Inatba, Many participants in the cryptocurrency industry are afraid, that these rules will threaten decentralized finances (DeFi).

According to the published document, only 23% References are considered, that Mica will contribute to Defi development, while 49% categorically disagree with this statement. Inatba researchers have added, that, taking into account the nature of decentralized protocols, they will not be able to function in accordance with the provisions of the Mica. The bill implies, that tokens issuers should be registered as a legal entity, And therefore, Easy to identify. However, Defi projects are deployed using smart contracts, which makes it difficult to identify tokens issuers.

Wherein 70% The survey participants answered, that cryptocurrency firms, which will observe the provisions of Mica, will have a competitive advantage over organizations, working in other legal regimes. 64% Firms are considered, that Mica will be able to prevent cryptocurrency fraud and reduce market manipulations. Besides, New rules can effectively solve problems, arising during international transactions between cryptocurrency firms in the European Union. They did not agree with this 10% respondents. 46% organizations answered, that the proposed bill pays too much attention to Steabelcoins. Besides, 49% Participants are considered, that even in the case of the adoption of Mica, Their activities will not fall under the scope of these rules. 20% The respondents said, that their business will be regulated by these provisions, but 31% could not give an unequivocal answer.

Recall, that recently the chairman of the financial markets of France (AMF) called on European regulators to soften the requirements for projects, blockchain -based.