DeFi’s death by a thousand cuts
Even if they comply with MiCAs requirements at first, they are not designed to freeze their initially approved structures so that they stay compliant.Where does that leave DeFi?One possibility is that the conflict in between the law and DeFi will continue and that DeFi will slowly be marginalized in favor of managed and certified services that users progressively see as more reputable. This may be a difficult fight for DeFi to win because cash is subject to network impacts, and if DeFi money can not user interface with legal money, its uses will be limited.The last option, and hopefully the one that will prevail, is that federal governments see the potential of DeFi and legislate to include it. If their conclusion is that DeFi projects are incompatible with the laws objectives, so be it– at least we will begin having a focused conversation on whether the law is in going in the right direction.Title: DeFis death by a thousand cutsSourced From: cointelegraph.com/news/defi-s-death-by-a-thousand-cutsPublished Date: Sun, 17 Jan 2021 17:27:00 +0000
Even if they comply with MiCAs requirements at first, they are not developed to freeze their initially approved structures so that they remain compliant.Where does that leave DeFi?One possibility is that the dispute between the law and DeFi will continue and that DeFi will slowly be marginalized in favor of managed and certified services that users increasingly see as more reliable. This might be a hard battle for DeFi to win because cash is subject to network results, and if DeFi money can not user interface with legal money, its usages will be limited.The last choice, and hopefully the one that will dominate, is that federal governments see the potential of DeFi and enact laws to include it. If their conclusion is that DeFi projects are incompatible with the laws goals, so be it– at least we will start having a concentrated discussion on whether the law is in going in the best direction.Title: DeFis death by a thousand cutsSourced From: cointelegraph.com/news/defi-s-death-by-a-thousand-cutsPublished Date: Sun, 17 Jan 2021 17:27:00 +0000
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