As a legal director of Kraken, Marco Santori supervised legal and regulatory compliance in one of the oldest and most secure cryptographic platforms in the world.
Now, after joining the WalletConnect Foundation as a director, Santori returns “to her roots,” he said Decipher.
“I wanted to focus on self -care,” said Santori, explaining that a large part of the growth of the cryptography industry in recent years has been motivated by speculation. “This is a feature, not a bug; Satoshi was one of the first to report it,” he added. But while speculators are the “top of the funnel for the adoption of cryptography”, it said, “it is essential that there are tools that demonstrate how powerful self -care can be – how it cannot just serve philosophical ends, but also practical ends.”
This is, he explained, this is what attracted him to WalletConnect. The platform is “at the forefront, it is omnipresent, it is largely compatible,” he said, adding that it “allows developers to easily build self-care”.
Santori has joined WalletConnect to a central point of its trip, the platform listing its WCT token, used for costs, rewards, stake and governance on the network.
To date, WalletConnect claims to have enabled more than 255 million “secure and secure connections” for more than 45 million users worldwide, through an ecosystem of 600 wallets and 54,000 applications. Last year, the platform launched its certified WalletConnect certified kitemark to help improve UX standards and security through self-to-the-heart.
Navigation of cryptographic regulations
Santori helps guide WalletConnect’s growth while it sails in an evolutionary landscape of regulation and cryptographic legislation around the world. In Europe, he said: “We judge appropriate to ensure that the regulations be created”, in the form of an Mica, the framework of the markets in Crypto Assets.
Although it anticipates “friction and disagreement” in the coming years, while businesses are attacking the way of interpreting Mica, “these disagreements will be resolved” through legal and extrajudicial processes, as well as liaison with regulators. “From this will come from advice, no letter of action, calls for ESMA,” he said. “We will see all this brilliant above the existing mica rules.”
American regulations are “not quite far, but it has the advantage of a slightly more stable regulation, at least historically,” said Santori, adding that, “because of this stability, it tends to take a little more time to do things well.” Stable The laws come in the form of the law on engineering and the stable act, he noted, and “following in the pipeline is the regulation of the structure of the market”, covering the secondary markets as the exchanges of crypto. “For anyone who wants to do business in the United States, it will finally be a functional regulatory regime,” he said.
The regulation of British cryptography has experienced a “effort to start stuttering” in recent years, said Santori, adding that “there have been several attempts to regulate crypto in the United Kingdom, and that never seems to materialize”.
More broadly, he said: “I did not see the legal landscape follow each other”, with the self-leather. “It may be a good thing,” he added. “To put it clearly, regulators react mainly to people who complain of losing money, or titles of people earning money,” he said. “They are not yet focused on what is happening when these digital assets are used in trade. For example, we do not have a regulation E in the United States for stablecoins, and it is a good thing – but questions how long it will last.”
Does crypto need intimacy?
Cryptographic regulation and regulatory legislation inevitably highlights the tension between privacy and conformity. For Santori, “I don’t think there is a good answer.” He argued that “you cannot look at the world today and say:” Okay, it is precisely the dollar threshold of transactions that should be examined by the government “.
Blockchains And the self-toilet is “intrinsically political”, he said, explaining that “they change the status quo of a default intermediary system to a private peer system by default.”
He added that “there is many, especially in the United States, which would say that there is not really good argument for the government to have visibility in specific private transactions, and the only transactions in which the government should have visibility is to be aggregated.”
But the tension between private life and conformity can be a “false dichotomy,” said Santori. “You must pay the development of zero knowledge and ZK, and the apparent desire for the intimacy of the community, on the one hand, with the fact that so few people use it on the other.”
“The reality is that most people are not looking for financial privacy,” he added. “It may be that this problem that we identify as primary is not a fight as existential as people could make it appear.”
Defi and beyond
Likewise, the cryptographic community is quick to trot the mantra of “not your keys, not your crypto”. But, said Santori, “it may not be the case that everyone had to be self-pattern in all circumstances and for all purposes.”
“The beauty of the crypto is that it gives you this choice,” he said, explaining that, “we do not self-draw everything we have, but we do things to self-us that we have.”
“In terms of access to this place where people are independent should To be autonomous, what I would like to see is greater functionality, “added Santori, noting that” we always build these primitives as ecosystem, as a community “.
“It was with Bitcoin, you bought them, they were sitting there, you hit and that was everything,” he said. “Now, we expect our pieces to actually work on the blockchain, that we can engage in Defi, that we can sign more complex transactions, which they can interact with intelligent contracts – and WalletConnect is the software that allows people to do it.”
And while the self-leather “shines today” in DEFI, among experienced crypto users, space must stimulate adoption among “standards” to reach its true potential. There is still work to do on “basic fundamental primitives that allow people to engage in a more practical and fluid way with these systems,” said Santori. “WalletConnect leads there, and that explains why I joined the project.”
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