Belgium's digital minister: EU plans to 'bring order to crypto' and create its o...
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Belgium's digital minister: EU plans to 'bring order to crypto' and create its own blockchain | The Crypto Mile
Belgium's digital minister: EU plans to 'bring order to crypto' and create its own blockchain | The Crypto Mile
On this week's episode of The Crypto Mile, our host Brian McGleenon interviews Belgium's digital minister Mathieu Michel, who discusses the EU's plans to "bring order to crypto" and develop its own official, regulated blockchain. Michel emphasises the need for trust and regulation in the rapidly evolving crypto ecosystem and asserts that crypto should be viewed not merely as a currency, but as a document of value, a means to exchange value, credentials, property ownership, and a way to protect privacy. The conversation also covers the EU's MiCA (Markets in Crypto Assets) legislation, with Michel explaining that the new regulatory framework aims to strike a balance between innovation, security, and privacy without hindering progress. By establishing trust through clear, proactive regulatory guidelines, Michel believes MiCA can help Europe build a robust ecosystem and capitalise on the upcoming wave of web3 innovation. The EU is also focused on creating a safe investment environment and plans to develop concrete blockchain applications in 2024 with the creation of 'Europeum', a blockchain for Europe. This official blockchain will concentrate on the exchange of data related to the bloc's citizens, such as driving licenses, identity cards, and property deeds.
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Belgium's digital minister: EU plans to 'bring order to crypto' and create its own blockchain | The Crypto Mile
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On this week's episode of The Crypto Mile, our host Brian McGleenon interviews Belgium's digital minister Mathieu Michel, who discusses the EU's plans to "bring order to crypto" and develop its own official, regulated blockchain. Michel emphasises the need for trust and regulation in the rapidly evolving crypto ecosystem and asserts that crypto should be viewed not merely as a currency, but as a document of value, a means to exchange value, credentials, property ownership, and a way to protect privacy. The conversation also covers the EU's MiCA (Markets in Crypto Assets) legislation, with Michel explaining that the new regulatory framework aims to strike a balance between innovation, security, and privacy without hindering progress. By establishing trust through clear, proactive regulatory guidelines, Michel believes MiCA can help Europe build a robust ecosystem and capitalise on the upcoming wave of web3 innovation. The EU is also focused on creating a safe investment environment and plans to develop concrete blockchain applications in 2024 with the creation of 'Europeum', a blockchain for Europe. This official blockchain will concentrate on the exchange of data related to the bloc's citizens, such as driving licenses, identity cards, and property deeds.
Video Transcript
BRIAN MCGLEENON: On this week's episode of "The Crypto Mile," we speak to Belgium's Digital Minister Mathieu Michel to discuss the implications of MiCA, the Markets in Crypto Assets bill which will implement the EU's world-first framework for regulating crypto. And we'll also discuss europium, a smart contract blockchain for the bloc's member states that could store property ownership, driving licenses, and professional qualifications for every European citizen. Mathieu Michel, welcome to this week's episode of Yahoo Finance's "The Crypto Mile."
MATHIEU MICHEL: Thank you. I'm really pleased to meet you, Brian.
BRIAN MCGLEENON: We're very fortunate. Now, looking at MiCA, like GDPR and PSD2 before it, will MiCA become the global benchmark for crypto and digital asset regulation? And could it boost the next phase of this burgeoning industry?
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