Crypto Custody In The Wake Of MICA Regulations

Crypto Custody In The Wake Of MICA Regulations

In this episode of Public Key, our host, Ian Andrews (CMO at Chainalysis) is joined by Alan Draguilow (Head of Product & Operations, Prosegur Crypto) to consider the impact of the controversial MICA regulations that are making their way through the EU legislative process.  Alan talks about the evolution of Prosegur from physical to digital asset security and how this will enable financial institutions to feel safer in entering the crypto market. 

The conversation addresses the quickly moving adoption in Latin America and the challenges with the inconsistent approach to crypto regulations around the world for International companies attempting to release products globally.

We are proud to highlight that Prosegur is a client of Chainalysis. 

Minute-by-minute episode breakdown

• (2:19) – Alan’s origin story, why Ethereum blew his mind and being caught up in the DAO hack
• (6:25)  – What is Prosegur and how they are handling physical assets and crypto assets 
• (9:15) – The differences between physical asset security and digital asset custody
• (12:00) – The cryptocurrency market and adoption in Spain
• (14:27) – What is MICA and how does it impact cryptocurrency companies in the EU
• (17:35) – Why banks and large financial institutions in Spain are waiting for MICA regulations before moving quickly into the crypto market
• (20:20) – The issues with inconsistent regulation in EU and in USA and how International crypto companies navigate this area
• (24:00) – How LATAM is  leading the way in crypto regulation and adoption ahead of USA and the EU 
• (27:57) - How the remittance market between Europe and Latin has opened up a need for cryptocurrency 

Related resources

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

• Video: Chainalysis Links New York 2022 (Video Replays) 
• Blog: Banks Need to Understand Their Cryptocurrency Exposure Even If They Don’t Take Custody of Cryptocurrency
• Announcement: Asset Reality and Chainalysis partner with Grant Thornton to offer pioneering solution for crypto recovery investigation
• Article: Mutua Madrid Open and Prosegur include a smart robot dog in their security device for the first time
• Report: The Chainalysis 2022 Crypto Crime Report
• Website: Prosegur: Physical and Digital Asset Custodian

Speakers on today’s episode

• Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) https://www.linkedin.com/in/ianhandrews
• Alan Draguilow (Head of Product & Operations, Prosegur Crypto) https://www.linkedin.com/in/alan-draguilow

**Note: We are proud to highlight that Prosegur is a Client of Chainalysis 

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