Thread by @archimate

Short summary of today's @INATBA_org meeting on #TFR in #Brussels:
@Europarl_EN repeated its concerns and intentions, but did not give in to the objections and counter examples of the #crytpo proponents (and bystanders such as @SofwareAG).

1/n

#Crypto proponents were arguing
▪️lack of proportionality (e.g., vis-á-vis cash TX)
▪️undue burden of proof for trivial amounts (no de minimis threshold)
▪️privacy issues for consumers (especially for unhosted wallets

(2/n)

.@EvaKaili (who did a great job of moderating all of this) summarized everything as
▪️excellent discussion today
▪️there certainly is room to maneuver
▪️the two sides have not met today, but...
▪️we will repeat such an discussion meeting at the end of May

(3/n)

My personal take
▪️@Europarl_EN does not understand diff between financial sector (500 yrs) & #crypto (10 yrs old)
▪️There is a negative bias against crypto
▪️We are quite late in the drafting process
▪️We really need to invest *now* to change things.

(4/n)

I remain positive and think we still can turn the most unfavorably (and unwarranted) provisions of #TFR around - but this will need a concerted effort of all of us (@INATBA_org, @bitkom_block, others).

I am willing to invest - who else?

Ha, in all my engagement for #crypto and #dlt I forgot to mention our (@SoftwareAG) real reason why we are so vocal in fighting against the current #TRF proposal:

Every (!) #IoT #platform vendor will fall under the TRF regime with the current proposal. No kidding.