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Cryptoknowmics 2022-05-25 23:30:28

Possible Reasons Why DeFi Doesn’t Have a Lobby in Some Locations

The European Commission, the European Parliament, and the Council of Ministers are currently in a trialogue engagement on Transfer of Funds (TFR) and Markets in Crypto Assets (MiCA) regulations. We expect a conclusion on this within a couple of weeks. Several experts assert that adopting TFR in its current form would establish a massive financial surveillance regime over non-fungible tokens (NFTs), European decentralized finance (DeFi), and the metaverse. Consequently, businesses in those regions might relocate to avoid the regulations. The German DeFi community is yet to cease communication. Instead, they have written an open letter to the European Union decision-makers, which supporters can sign. Peter Grosskopf from Unstoppable Finance, who in 2017 was a co-founder of Solarisbank, is one of the numerous individuals who initiated the letter. Grosskopf served as the Stuttgart Digital Exchange’s chief technology officer the previous year before launching his personal DeFi project with Omid Aladini and Maximilian von Wallenberg. In an interview about his interest in DeFi, Peter Grosskopf shared his thoughts about the proposed TFR regulations and the current sentiments of the DeFi community in Germany. He said, “Nearly everything we can do with a bank today, we can now do ourselves with DeFi apps. A modern and global infrastructure is emerging that is operable not only in North America, Asia or Europe but also globally.” He furt...

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