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🇪🇺 MiCA WAS BUILT TO REGULATE CRYPTO. USERS ARE ESCAPING IT INSTEAD. MiCA was built to bring crypto activity into regulated, supervised platforms. Instead, most users are choosing to hold their own keys. Binance itself withdrew its Greek MiCA license days before the deadline and paused EU deposits, trading,...

51,003 Aufrufe • vor 9 Tagen •via X (Twitter)

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Today, we propose the COINS Act, a rights-first model law for India’s crypto challenges published by Hashed Emergent & Black Dot Policy Advisors. The Crypto-Systems Oversight, Innovation and Strategy (COINS) Act is a draft law that envisions a pro-innovation crypto regulatory framework for India, designed to inform dialogue between regulators and the industry, in light of the development of global crypto regulation. The COINS Act is composed of: 1/ Crypto-native Constitutional Rights: Fundamental freedoms of self-custody, privacy, code deployment and protocol interaction are enshrined as the pillars of the COINS Act. 2/ Crypto-native Regulator and Targeted Regulation: A crypto industry specific regulator whose powers are strictly limited to India-facing services, without overreaching into truly decentralized and borderless protocols, COINS is designed for asset and activity-based delegated legislation. 3/ Control & Custody Framework: Centralized exchanges face full licensing requirements, non‑custodial protocols subject to a simple disclosure regime, and truly decentralized protocols are fully exempt from compliance. 4/ Safe Harbours for Onshore Protocol Economy: A time-limited safe harbour for initial coin offerings in India to kick-start Indian-origin token projects and nurture a homegrown protocol ecosystem; protocol developers are protected from liability for acts of end-users. 5/ Strategic Bitcoin & Crypto Reserve: A forward-looking mandate that empowers the Central Government to build a Strategic Bitcoin & Crypto-asset Reserve and to secure India’s long-term crypto-asset sovereignty. It’s our sincere hope that the COINS Act model law provides a clear, constructive dialogue and path forward between regulators and the industry that empowers builders, protects users, and accelerates India’s global crypto leadership.

Hashed Emergent

24,240 Aufrufe • vor 1 Jahr