Mica’s Not Enough

MiCA’s Not Enough: Bybit CEO Says Firms Need Other Licenses To Turn A Profit In Europe
CoinDesk

…In some senses, hardly news methinks, this has been obvious for months albeit the EU didn’t help itself by making the demand of payment licences at a pretty late stage last year.

NB What seems like an eon ago but is actually barely 24 months or thereabouts, US crypto bros were berating the Biden admin and saying the EU was the future of crypto. They meant a pro-growth environment… At the time, I pointed out this concept of EU as pro-growth flew in the face of the EU’s history and… well, Trump happened, saving a fair bit of egg face repo for the bros, I suppose.

In other news, A Long-Time Developer Wants To Split Bitcoin Blockchain And Reassign Satoshi Coins. The Community Is Calling It A Theft (CoinDesk).

In legislative bans, who could have predicted it? (Well me for a start as rules are not exactly holistically considered…) Brazil Blocks Kalshi, Polymarket In Sweeping Ban Citing Investor Protections (The Block). In other prediction market analysis - where every OpEd comes from folks who predominantly had never heard of prediction markets until they became headline news. Anyway, via The Telegraph, The World Doesn’t Need Polymarket, The Crypto Casino From Hell. (TBT prediction markets are really useful but once again, the management of the current wave of prediction markets have proven stubbornly incapable of thinking their markets through).

On a broader note, as CoinDesk notes, Running Out Of Time On Clarity: State Of Crypto while here is an execution concern writ large, Unlocking The Crypto Ecosystem (Dawn).

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