What Crypto Can Learn From Regulatory Overhauls at PayPal, Robinhood and Revolut

Similarly, regulation in crypto can encourage greater transparency by utilizing blockchain’s distributed ledger technology. We’ve seen legislation such as MiCA attempt to implement verification measures to bring Web3 in line with existing financial institutions. For example, it limits non-KYC’ed wallet addresses to 1,000 euros (~$1,057) per transaction — while KYCd addresses can transact freely. This could be considered a positive step in the right direction. Larger participants hold a greater share of the market, so, they should be held more accountable for their on-chain behavior.

Source link

Read Previous

Coinbase chooses Ireland as its EU MiCA hub

Read Next

Coinbase Picks Ireland as Its Main Regulatory Hub in EU