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Happy Thursday <<First Name>>!

This week we've got a very special edition for you, because it's our 100th Watsonlaw Newsletter! From crypto and climate to Bitcoin lawsuits, we've got it all covered for you in this week's newsletter.

All the best wishes for 2022 from the Watsonlaw team!

Enjoy reading!

Climate

🤩 The Bitcoin Mining Council (BMC), a voluntary global forum of Bitcoin mining companies and other companies in the Bitcoin industry, announced the findings of its fourth quarter 2021 survey. The survey confirms improvements in sustainable power mix and technological efficiency.

🔥 De Nederlandsche Bank (DNB) claims to have developed a new method to measure Bitcoin's carbon footprint. Based on this method the total carbon footprint of the Bitcoin network increased with approximately 25% in 2020, while the number of transactions decreased by 6%. This equates to a climate impact of about 402kg of CO2 per Bitcoin transaction in 2020. Alex de Vries' line of reasoning is clearly visible in the report.
        ➡️ Peter Slagter reacts to DNBs report. In his opinion there are numerous red flags which show the report could be seen as one-sided and biased.

⚡ Technology giant Intel is set to enter the Bitcoin mining business, starting with the reveal of a new Bitcoin mining "Bonanza Mine" chip at this year's International Solid-Stat Circuits Conference (ISCC) in February. According to Intel this chip will be an ultra-low-voltage energy-efficient Bitcoin mining chip.

Business

⚖️ Twitter co-founder Jack Dorsey has announced the creation of a non-profit group, called the Bitcoin Legal Defense Fund. The fund will assist developers of the world's first cryptocurrency in fighting lawsuits. Dorsey conveyed the information in an email to the developers' mailing group.

🛍️ Crypto is no longer purely digital, now it is also something physical, something you can experience. The first physical store in the Netherlands which is all about cryptos is now a fact. Coinmerce opened the very first crypto store in the Netherlands, and it is called the Crypto Information Center.

🚀 BANXA Holdings, the world's first listed payment service provider (PSP), and RegTech platform for the digital assets industry, has announced a partnership with Ledger, the world-leading hardware wallet provider. Customers will now be able to access Banxa's global payments network through the Ledger Live app.

Finance

🇮🇹 Banca Generali, one of Italy's largest banks, will soon offer its customers the opportunity to buy Bitcoin. To develop this project the private bank partnered with Conio, a wallet/exchange app. Riccardo Renna, the COO of the bank, announced their plans during an interview with WeWealth.

😱 The Authority Financial Markets (AFM) has published a report on an investigation into more than 150 finfluencers. Finfluencers are a fast-growing phenomenon, also in the crypto space. It underlines the increased interesting in trading among young people in particular. However, finfluencers do not always adhere to the rules...

Regulatory

✅ The world's largest cryptocurrency exchange, Binance, has secured a MSB license to offer cryptocurrency services from the Canadian regulatory authorities. On the same day, the company also received in-principle approval from the central bank of Bahrain.

🏰 Disney has been approved for a patent to provide meta verse functionality in its theme parks. The technology would facilitate headset-free augmented reality (AR) attractions. The company will be using technology that tracks the activities of visitors on their phones. It will then generate personalized interactive attractions for each of these visitors, displaying them as 3D images on nearby physical spaces, wall and other objects in the park.

MiCA blog
Watsonlaw released its fourth, fifth and sixth edition of the bi-weekly series of articles about the draft Markets in Crypto-Asset (MiCA) Regulation.

4️⃣ The fourth topic contains: issuance and listing of tokens (crypto assets). How will MiCA change the possibilities for offering tokens in the EU? What requirements will MiCA bring in terms of listing tokens on trading venues?

5️⃣ The fifth topic is all about offering and admission to trading of asset referenced and E-money tokens. Which obligations apply and what are the expected effects of MiCA?

6️⃣ The topic of the sixth blog is the regulation of Crypto-asset Service Providers (CASPs). What impact will MiCA have on crypto exchanges, brokers, custodians and trading platforms?

"Within the next two or three years, I predict most virtual meetings will move from 2D camera image grids - which I call the Hollywood Squares model, although I know that probably dates me - to the metaverse, a 3D space with digital avatars,"

- Bill Gates

The Law Society, in collaboration with the Tech London Advocates (TLA) Blockchain Legal and Regulatory Group, published the second edition of their blockchain report. The guidance covers a range of key issues for legal practitioners to be aware of when advising on distributed ledger technology (DLT) related matters.

🇺🇸 A report by the United States Government Accountability Office (GAO) stated registration rules for crypto ATMs should be tightened. The reason is the apparent connection between the ATMs and illicit human and drug trafficking. The kiosks are being blamed for an upsurge in the incidences of trafficking operations.

🇪🇺 Professor Philipp Sadner and PhD Agata Ferreira published a paper about the regulation on Markets in Crypto-assets (MiCA). It evaluates the EU's current regulatory approach to crypto assets against the background of the views and reports of several advisory and supervisory bodies and international organizations and against market developments.

🎆 In the past year, we've witnessed leaps in adoption, infrastructure, regulation, policy and new all-time highs. The Kraken Digital Asset Exchange Intelligence team revisited some of 2021's most notable market events and shares what may be expected in the year ahead.

Postscript

Thank you for reading the latest edition of the Watsonlaw newsletter. If you have any content-related recommendations or news you'd like us to share for next time, please don't hesitate to reach out to info@watsonlaw.nl or even better, directly connect with our team members Willem-Jan Smits and Jorie Corten. To stay up to date with all our updates and connect with our team, follow Watsonlaw on LinkedIn. Did we miss anything? Or perhaps something got you particularly intrigued? Do send us a message and let's talk! Ciao for now and see you again next time!

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Watsonlaw is a 's-Hertogenbosch-based law firm specializing in corporate and civil matters and the legal implications of new technologies in everyday life and business.

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