Will regulation kill DeFi?

In the third episode of MERGE Talks, we dive straight into the legal heart of the crypto ecosystem guided by Pedro Méndez de Vigo, current legal counsel at Crypto.com, with previous experience in giants like Binance and Kraken, and a key player in drafting the first blueprints of the MiCA law at Cuatrecasas.

Throughout this fascinating chat, we demystify crypto regulation by comparing it to the internet regulatory "boom" of the early 2000s. Pedro explains why a clear legal framework is the ultimate trigger for the massive institutional adoption we are experiencing today.

We deeply analyze the MiCA Regulation: . What does it actually regulate? (Spoiler: intermediaries, not users or the assets themselves). We understand why Crypto.com's business model in Europe (operating against its own inventory) differs from a traditional order book exchange to minimize counterparty risk.

Furthermore, we tackle the hottest debates in the Web3 community: Does it make sense to talk about a MiCA 2.0? Should decentralized finance (DeFi) be regulated, or would that kill its essence? . We address the controversial "Travel Rule" against money laundering: why exchanges ask for your data when withdrawing funds to self-custody wallets (like MetaMask or Rabby) and how on-chain traceability really works (anonymity vs. pseudonymity).

To wrap up, Pedro shares his vision on Spain's role as a Web3 talent hub, the "Brussels Effect" versus US regulations, and the current legal vacuum regarding key products like Staking or the listing of Meme coins on centralized platforms.