ADAN, the leading non-profit organization dedicated to the development of the crypto sector in Europe, recently published its 2023 report. In this article we summarize the actions carried out by ADAN to advance the understanding and legislation related to Web3.
What is Adan?
Since the emergence of the thriving cryptocurrency sector, Actors operating in this environment regularly call for a clear legislative framework to be able to build and develop the Web3 of tomorrow.
One of Adan's many missions is to make its voice heard by regulators to deconstructing prejudices and advancing legislation.
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Indeed, without a clear legislative framework, companies generally prefer to move to countries that are historically more favorable to cryptos. Thus, in order to preserve and To promote the Web3 economy in France and more generally in Europe, Adan acts as a spokesperson for institutions and individuals.
Non-profit organization, lobbying politicians, Adan has today become an essential player in the development of the crypto sector in Europe, particularly thanks to its contribution to discussions around MiCA regulations..
Now over 4 years old, Adan publishes a report on an annual basis to take stock of its actions and future objectives. In this article we will highlight the main points to remember from its latest report.
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Adan Report Summary for the Year 2023
Adan collaborates in particular with KPMG and the Ipsos polling institute in carrying out studies with a view to providing a global vision of the adoption of cryptocurrencies.
Awareness and use of cryptocurrencies according to the Adan report
With the help of collected data, Adan can more easily support its requests. For example, by justifying that 12% of French people own cryptos, its requests will have more weight than if adoption were lower.
Adan also played an important role in the law ” Influencers » in ” firmly opposing ” to the law as it was originally written.
The bill provided for a total ban on communicating with influencers on digital assets except for digital asset service providers (DSSPs) having obtained approval from the Financial Markets Authority (AMF), which was not the case for any company at the time of examination of the text.
So, Through its influence and numerous discussions, Adan contributed to a relaxation of the law.so that it does not penalize the entire crypto sector on European soil.
Moreover, Adan has actively contributed to raising awareness of the strategic and economic issues of the blockchain ecosystem, in order to best support companies in the crypto sector with regulators.
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During the year 2023, Adan welcomed a new group within its organization, the “ Tokenization “. Each respective committee within the organization aims to represent the interests of the actors operating in this ” sub-sector “.
With the rise of the Real World Assets (RWA) narrative, it is therefore logical that Adan should set up a new committee of experts in this field, in order to support players in the sector and raise awareness among regulators of the need to define a legislative framework favorable to the development of RWA companies on European soil.
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In 2023, the Adan board of directors consisted of 9 members, including its president, Faustine Fleuret, Mark Kepeneghian, the vice-president of Adan, member of the Tokenization Committee and CEO of Kriptown. Among the members of the Adan board of directors we can also mention Valentin Demé, former journalist for Cryptoast and current CEO of the cube3 incubator.
Finally, In 2023, Adan had a membership of 205 companies, eager to advance legislation for the protection of individual investors and to foster business development in Europe..
📙 To learn more about Adan's work and learn about its major role in the development of Web3 in France and Europe, we invite you to read the association's full report.
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