OffChain Luxembourg is a non-profit founded in Luxembourg as the local chapter of OffChain Global. I wrote extensively about it and you can find more info under @offchain-lux.
Besides organising events and trainings in order to prepare the local population for the upcoming crypto revolution, we have embarked on a project: offering the first MiCA-compliant token in Luxembourg. Or, in other terms, launching the first legal ICO in Europe!
Being compliant with MiCA is not an easy thing. So we are taking the compliance process one step at a time.
Now for the first time ever, a member has paid their membership fee in BTC, and it's comfortably sitting in our CASP account with bitFlyer Europe S.A.
Why's this a big deal? It's a live demo of the MiCA framework in action, specifically Art 10.3(b), which requires any offeror to keep the crypto received with a CASP, and Art. 13 for the "right of withdrawal" for crypto contributions.
When our OCLT tokens go on sale to the larger public, and you decide to buy with crypto, we'll keep your digital coins safe with a CASP for at least 14 days.
It's all about giving you peace of mind, knowing you've got the right to change it. All in line with the third officially stated goal of MiCA, protection of consumers and investors.
This isn't just about following rules; it's about pioneering a path for secure and compliant crypto transactions in Luxembourg. So we're progressing nicely.
Hats off to our member for leading the charge, and here's to many more milestones like this. Together, we're not just embracing the future of finance: we're shaping it.