New MiCA tests for crypto service providers - what are your thoughts?
I've been keeping up with the latest discussions around the MiCA regulations, and it seems like supervising authorities are really honing in on how crypto service providers operate. There's talk about specific tests and criteria being developed to classify different types of services, which sounds like it could have a big impact on a lot of businesses in the space. My own small startup offers a unique blend of services, and I'm a bit worried about how these new classifications might affect us. Does anyone have more detailed information or thoughts on these upcoming tests for crypto service providers?
At the same time, users should understand the difference between a regulated service and self-custody. I found https://trustee.io/academy/what-is-a-non-custodial-wallet/ useful because it explains how non-custodial wallets work and why control over private keys matters. For me, the challenge is finding the right balance between stronger regulation and keeping crypto accessible. Hopefully, the new requirements will improve security without adding unnecessary complexity for users.