/biz/ - Business & Finance

>>58509467
>submit a zk proof that they’re not from North Korea or whatever without actually exposing their personal information
literally Everest

I told you it was shit

>>58123394
The only solution.

>>56128687
https://legalnodes.com/article/mica-regulation-explained

>The key objectives of MiCA are:
>To replace individual regulations found within several EU nations with one unifying and comprehensive framework
>To set clearer rules for crypto-asset service providers and token issuers
>To provide more certainty in the regulation of crypto assets where it is not covered by the existing financial regulations

>Businesses covered by MiCA, or crypto-asset service providers (CASPs), include:
>Custodial wallets
>Exchanges for crypto to crypto transactions or crypto to fiat transactions
>Crypto-trading platforms
>Crypto-asset advising firms and crypto-portfolio managers

>Algorithmic stablecoins are banned and asset-backed stablecoins must comply with strict rules

>After the “transition period” —18 months after MiCAs eventual adoption—all EU crypto-businesses will need to receive an authorization to operate as a crypto-asset service provider.

unique human data connected directly to smart contracts will open up so many use cases for our industry.
programmable real world assets will be revolutionary too. imagine giving your family some money that they can only spend on what you dictate, or a bank lending money for a mortgage that can only be spent on a house. what about programming a stock to be shorted when a company appoints a pajeet as ceo?

>>55172571
everest biometric data is user owned and controlled
>can you imagine the smell of my gigantic cock under my kilt?
>its proven to keep your fresh and ready for action

>I bet these everest faggots wear the finest chinese polyester underwear and actually smell like sour onion
this just about sums you up, doesnt it

https://legalnodes.com/article/mica-regulation-explained

>The key objectives of MiCA are:
>To replace individual regulations found within several EU nations with one unifying and comprehensive framework
>To set clearer rules for crypto-asset service providers and token issuers
>To provide more certainty in the regulation of crypto assets where it is not covered by the existing financial regulations

>Businesses covered by MiCA, or crypto-asset service providers (CASPs), include:
>Custodial wallets
>Exchanges for crypto to crypto transactions or crypto to fiat transactions
>Crypto-trading platforms
>Crypto-asset advising firms and crypto-portfolio managers

>Algorithmic stablecoins are banned and asset-backed stablecoins must comply with strict rules

>After the “transition period” —18 months after MiCAs eventual adoption—all EU crypto-businesses will need to receive an authorization to operate as a crypto-asset service provider.

>>53785689
Not that you're going to understand the rest of it, here's the entire post from Bob Reid's last AMA (you're welcome).

DeFi will be regulated……that means a full compliance suite
-Identity verification, deduplication
-KYC/AML
-Risk rating
-Ongoing monitoring
-Reporting
-License
-BSA
-Policies, procedures, insurance, etc…...
Problems……DeFi players
1) don’t have any of this, nor know how to do it, and they will need to outsource all of this, and
they want to stay clean holding any identity data or KYC checks anyway
2) 99% think that a green check mark on a wallet from a SW vendor will satisfy these requirements……It’s honestly driving me crazy
a) DIDs…..hashes of credentials will not satisfy the above. And you can launder money money with DIDs. And you don't derive an identity from credential - it's vice versa.
b) SoulBound Tokens……..cute idea, might be relevant for reputation, but if you’re using just those without a real identity underneath, you’re going to jail
c) Zero knowledge proofs……wrap a KYC green checkmark inside of an encrypted proof……again, not compliance, not identity, no way to do any reporting, etc……I can launder money with it, and DeFi suppliers will go to jail
Solution…….
- Contract with an entity that has the same reporting, data retention & protection laws……so a licensed crypto custodian
- Risk rate users and transactions
- Perform ongoing monitoring
- Don’t actually pass the data to the DeFi project (keeps them clean), but have it available on-demand
Guess who is uniquely positioned to supply the solution? Everest.

>>53155252
>sharing memes and information is pathetic
why dont you try being nice?

>>53099785

>>52254019
It's not shilling, it's manifestation.

>>50551452
faggot

if only there were some way of profitting from the impending regulations