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Belgium's digital minister: EU to 'bring order to crypto' with own blockchain

On this week's YouTube episode of The Crypto Mile,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 emphasizes 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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