Dusk's Preparedness for MiCA Compliance

The European Union recently approved the Markets in Crypto Assets Regulation (MiCA), which came into force in June 2023, bringing crypto assets, crypto asset issuers, and crypto asset service providers under a single regulatory framework. The MiCA regulations introduce increased transparency and create a comprehensive regulatory framework for service providers and issuers and compliance with anti-money laundering rules.

Timeline of Dusk-network

A privacy-focused Ethereum rival has surged by more than 81% this week as US regulatory crackdowns bubble up across the crypto space. The layer-1 blockchain project Dusk Network (DUSK) is currently trading at $0.268, up from $0.1471 seven days ago. Dusk Network focuses on privacy-focused smart contracts that comply with business compliance standards.

Dusk Network recently announced the launch of Citadel, a bespoke KYC and AML solution incorporating zero-knowledge proofs, digital self-sovereign identity, and automated compliance with regulations. The framework lets users control what they share and with whom.

Research submitted and first use cases in development Fintech scale-up Dusk Network presents Citadel, a zero-knowledge proof KYC solution where users and institutions are in control of sharing permissions and personal information. The framework can be used for all claim-based KYC requests and puts users in total control of what information they are sharing and with whom while being completely compliant and private at the same time.

Community Node campaigns will reward involvement. As Dusk Network's protocol evolves towards the next phase of Testnet, unique opportunities arise for those passionate (and savvy) enough to get involved in the process.

Extremely comprehensive legislative changes for the crypto sector are close to being implemented. Dusk Network is preparing for them, and in a series of articles on the subject, seeks to help the broader crypto community to understand its obligations in what can potentially be a difficult and complex transition into a new regulatory environment.

Dusk Network has just released its fourth transparency report in which it underlines the strong financials that will enable the company to continue its cutting-edge development in fully compliant, private and decentralised finance. Despite a crushing bear market, Dusk Network has forged ahead on a road to long-term growth, all the while adapting to the fast-changing regulatory environment for cryptocurrencies.

Following on the heels of Dusk Network's upgraded ‘Daylight testnet' and updated roadmap, the company has also announced the hiring of two key team members in Berndt De Wit (Head of Marketing), and Yvo Rico (Head of Corporate Office). Berndt and Yvo will join Dusk Network as Head of Marketing, and Head of Corporate Office respectively.

The second iteration of Dusk Network's testnet has been launched. Daylight implements an upgraded staking contract which will improve blockchain stability, and will allow many more nodes to participate without any adverse effects.

In this week's interview, Adryenn Ashley sat down with Dusk Network's new Senior Project Manager Ryan King. Dusk Network is a layer-1 blockchain protocol capable of powering privacy-preserving smart contracts that satisfy business compliance criteria.