What do I think about the regulation or elimination of euro stablecoins?
Hello friends, after being away from Steemit and the news for 6 days, I come across this interesting news, but in recent weeks several very important news have arrived that have put the crypto sector in the spotlight of the main regulatory bodies. with decentralized equal stable coins as the main protagonists.
This is after the latest announcements that the European authorities have made with the Mica law and as a result of the great pressure they are exerting to launch this new regulatory framework.
I think that regulators seek to adapt their business idea, logically what every business seeks is to pursue money and what they want is with this sustainability to be able to earn as much money as possible.
What's going on? This type of crypto business is subject to regulation, that is, it is not a typical business in which you make a bakery and you can sell the bread as you want, but rather one in which you act in a regulated market, so there is regulation. that you have to fulfill.
Just as European regulation would come in, such as in this case Mica or transfer of funds, so what is happening here with crypto regulation, let's keep in mind that if we talk about centralized finance, this goes the other way if we talk purely about centralized finance in the To the extent that they are centralized, regulation is applied and what this regulation does is put a brake on the wheels or in the sense of regulating your operations a little.
Since in this way you at the business level have to adapt your business ideology, you have to adapt your methodology of making money in order to give in to this regulation.
So if the regulation understands that you, for example, cannot list privacy-enhanced cryptocurrencies, for example XMR or Zcash, it is because you may be facilitating money laundering, so you as an exchange, no matter how much you may be making money.
Let's see if you understand me, in this case you have stablecoins such as USDC, USDT, etc. or you have, for example, that you want to make derivatives or you want to enable your clients to operate but all this without the user having gone through an identity verification.
So what the regulators in Europe are looking for is to prevent your clients from operating in your CEX without first going through the KYC in order to be able to carry out types of future operations and derivative contracts and thus avoid money laundering.
So if you want to facilitate a financial instrument you have to meet the requirements and they have to operate with utility tokens or in this case if you want to facilitate the trading of a stablecoin in this case it must be regulated or you at the dex level must be regulated .
So no matter how much you want to make money in this world, if you do not comply with the regulations, you cannot develop your business to the extent that it is a regulated market and this measure has been established by many exchange houses worldwide since the exchanges, dex among others lends itself to being this act.
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