The Only Defence ESMA Accepts Is Technical

Disclaimers are explicitly worth nothing. There is exactly one measure the regulator recognises, and it is built, not written.

MiCA and design, part two of two. Written with Serhii Barinov of SBLC.

The previous issue ended on an uncomfortable note. A long list of ordinary growth decisions, domains, language versions, SEO targeting, affiliates, creators, educational content with a link back, all of it now reads to a European supervisor as evidence that a firm outside the EU is soliciting clients inside it.

The question that follows is obvious. So what actually works.

In most rooms the first answer is a banner. We will put a line on the homepage saying we do not serve EU residents, and a checkbox at signup confirming the user is not an EU resident. Everyone relaxes.

That is the one answer the guidelines rule out by name.

Facts over wording

The ESMA guidelines say the...

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