Interesting, but also shows that there is still a lot of uncertainty, not so easy to interpret the laws and regulation, adds additional non-productive complexity that can be a burden especially for smaller companies and startups. I also think the EU tends to overregulate everything, it's important to find the right balance between regulation and fostering innovation.
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There's some truth to that for sure.
What I liked about the approach here is that there was a greater degree of flexibility; smaller projects may be exempt if they don't try to promise the moon and deliver a rock.
The bar is set higher for Stables and asset-backed, because simply calling a token stable or asset-backed doesn't mean there is actually a real foundation underneath it, or those assets are actually being pulled away and used elsewhere, creating leverage for investors with no transparency or recourse (SBF)