Founders

The new EU regulation MiCA almost killed our startup. We are forced to wind down our B2C business. Only B2B (as a tech provider) is still in place, but we are heavily thinking if is still worth to continue on this road...
AMA.

Could you maybe explain in more detail what part of the MICA regulation you cannot comply with? Is it possible to share more about the underlying issues that your business has?

This is the alt account of Sister Hazel. Writings at https://powerlaw.systems.

I can see how this is interpreted as financial advice. But the egregious tragedy here is that business models get outlawed for no reason whatsoever.

If somebody wants to pay for a service why would you regulate that away, given you have the interest of all citizens in mind?

Just thinking out loud, can you use your service yourself without customers? I mean, if you are good at what you are doing then you could maybe just use your own intelligence in house and make money without external customers.

we developed a system to help customers optimise their trading strategies thru machine learning. the issue is that if you pass orders to exchanges via API you need to comply to MiCA (as if you was a bank). also applying ML (or the AI buzzword) to crypto activity is seen as "financial advise" even if it is completely algorithmic and no human advice is involved at all...