The winner is the one who sees challenges as opportunities: Viktor Berezenko on how Europe is preparing to launch a regulated crypto market

On November 17, a roundtable “Shaping the future of WEB 3.0” was held in a closed format in Brussels.

Representatives of the European public sector, international business and WEB 3.0 experts attended this event, organized and moderated by the Institute for Global Transformation (Brussels) and the German Marshall Fund of the United States.

The main topic of discussion was the creation of a favorable “climate” in Europe for the development of WEB 3.0 ecosystems against the background of the planned launch of the first and largest regulated crypto asset market in the EU. According to forecasts, this should happen in about a year, as soon as the so-called Markets in Crypto-assets (MiCA) Regulation will be adopted.

“People don't want to regulate the sphere as long as everything is fine and profits are growing. However, as soon as a crisis comes and they lose money, they immediately ask: who is responsible? Often we have seen some rivalry, especially in the media: between regulators and the industry. The current situation in the world confirms that it is necessary to move from a competitive approach to a cooperative one. It is much better to sit down at the same table and negotiate than to compete and fight each other. Society, industry, politicians will only benefit from this,” said Viktor Berezenko, co-founder of the Institute for Global Transformation.

It is expected that the ideas gained during the Brussels round table will later become the basis for a more global expert discussion at the EUROPEAN WEB 3.0 SUMMIT, which will be held in Antwerp in February 2023. The purpose of the event is to reach a stable consensus between state regulators, business, the blockchain community and civil society on what norms and algorithms