🏛️Bill Requiring KYC of Non-Custodial Wallets Passes EU Parliament

Happy Friday Defiers! Here’s what we’re covering today:

News

• European Parliament Passes Bill Requiring Crypto Firms to KYC Non-Custodial Wallets
• Tesla Taps MakerDAO-Powered Lender for $7.8M Real Estate Deal

Video

• Defiant Weekly: The Best Ethereum Merge Explainer You'll Ever See

Podcast

🎙Listen to this week’s podcast episode with Ken Seiff:

Trending in The Defiant

• Vitalik Muses on How PoS Could Have Come Sooner
• Polygon Taps Zero-Knowledge Proofs For New Identity Service
• Do Kwon's Treasury Play Allies LUNA and BTC Maxis in a Pumped Market

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Crypto Regulations

🇪🇺European Parliament Passes Bill Requiring Crypto Firms to KYC Non-Custodial Wallets

By Samuel Haig

KYC REQUIREMENTS On March 31, the European Parliament’s Committee on Economic and Monetary Affairs (ECON) approved provisions to Europe’s Transfer of Funds Regulation that restricts Virtual Asset Service Providers (VASPs) from transacting with unhosted wallets without verifying their owners’ identities beforehand.

MARKETS PAUSE With stormy regulatory clouds gathering over both the United States and Europe, the recent crypto rally appears to have stalled. According to CoinGecko, every non-stablecoin crypto asset ranked among the top 30 by market cap is down over the past 24 hours, while only four of the top 100 have posted a daily gain.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

DeFi Meets The Real World

⚡Tesla Taps MakerDAO-Powered Lender for $7.8M Real Estate Deal

Tesla is financing a repair center with a MakerDAO-powered loan.

By Samuel Haig

REAL ESTATE LOAN On March 30, 6s Capital, a commercial lender powered by MakerDAO, closed a real estate financing deal worth $7.8M for Tesla, the world’s leading electric vehicle company and the second-largest publicly-traded Bitcoin holder.

The $7.8M loan will be used to finance a new repair and collision center for Tesla. The credit line provided to Tesla is expected to increase to $14.2M when a second project from the electric vehicle manufacturer is completed later this year.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

The Tube

📺Defiant Weekly: The Best Ethereum Merge Explainer You'll Ever See

Trending in The Defiant

• Vitalik Muses on How PoS Could Have Come SoonerAs Ethereum approaches The Merge, Vitalik looks back at the journey and mulls over some design decisions.
• Polygon Taps Zero-Knowledge Proofs For New Identity ServicePolygon unveiled an identity service as the latest addition to its upcoming suite of zero-knowledge (ZK) protocols.
• Do Kwon's Treasury Play Allies LUNA and BTC Maxis in a Pumped MarketEarlier this month, Terra ecosystem co-founder Do Kwon bet $11M that its token, LUNA, would be higher a year from its March 14 price of $88.

🧑‍💻 ✍️ Stories in The Defiant are written by Owen Fernau, Samuel Haig, DeFiDad, and yyctrader, and edited by Edward Robinson, yyctrader, and Camila Russo. Videos are produced by Robin Schmidt, Alp Gasimov and Daniel Flynn. Podcast is led by Camila, edited by Alp.

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The Defiant is a daily newsletter focusing on decentralized finance, a new financial system that’s being built on top of open blockchains. The space is evolving at breakneck speed and revolutionizing tech and money. Signest, most interesting developments. Subscribers get full access, while free signups get only part of the content. Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button above ($15/mo, $150/yr)