Overviews on rising crypto ecosystem

Crypto ecosystem is evolving and is here to stay. Moreover, it gains more and more adoption, main stream media attention and integration into global financial system.

Soon after 2008 financial crisis, Bitcoin (BTC) protocol was created and started to work. Computer, IT, developers and enthusiasts opened a new chapter in technology breakthroughs. Today we can see people who are involved in crypto also as a new subculture. Few events that make Bitcoin and thus crypto ecosystem recognition through time:

• The Genesis Block: »Chancellor On The Brink«
• Bitcoin Pizza Day (10.000 BTC purchase)
• Mt. Gox hack
• Halving events
• Bitcoin reaches $20.000,00 during price »2017 ICO hype«
• March 2020 FED & other central banks intervention due to »Covid«
• Bitcoin reaches ATH $69.000,00
• Bitcoin and whole crypto ecosystem »enters« world events on Ukrainian crisis, namely of usage of S.W.I.F.T. protocol to impose sanctions.

Going back, in September 2020 in the State-of-The-Union for EU Commission, led by Ursula von der Leyen, severely transformational reforms were revealed. EU opened a clear vision of a Digital Europe, a Single Market, and the Capital Markets Union (CMU). EU Commissioner stressed the need for a »common approach with Member States on cryptocurrencies to ensure we understand how to make the most of the opportunities they create and address the new risks they may pose«.

In addition, also in September 2020 the EU leaked a completely new proposal for the legal framework of crypto assets. It is in the same line as the current MiFID II directive that covers financial markets within the EU, but the new legislation »Market in Crypto-Assets (MiCA)« (with EEA relevance!), has been proposed as a Regulation, not a Directive, so this means a common approach for all EU Member States at once.

This was a firm confirmation that the EU has a clear vision of Digital Finance for EU Financial Sector with the aim to ensure that the EU embraces the digital revolution, and that it will drive it with innovative European firms.

That was also a clear sign for GoldHorn Crypto® not only that the The Team made right decision for expanding crypto investment exposure products, but also gives confidence and legal framework. The MiCA legislation was set to be enacted around 2023 (no specific date was set), but now in current Ukrainian conflict, EU Commission fast forwarded the adoption of MiCA in the light of sanctions that were imposed via S.W.I.F.T. protocol.

That said, crypto is for all citizens around The World. Current geopolitical tensions are a major debut, that will undoubtedly put crypto ecosystem much more closer to recognition, institutionalisation and mass adoption.

Marko Pavlovic, Management Board Member, GoldHorn Crypto®

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