On June 27, 2Tokens hosted the MiCAR Symposium in cooperation with Rabobank at the global headquarters in Utrecht, supported by ABN Amro and Kraken. The event brought together a diverse group of industry experts, from European and Dutch regulators to “stablecoin” issuers, crypto service providers and tokenization innovators.
A Day of Exchange and Reflection
The symposium featured an afternoon of open, candid conversations about the evolving digital finance landscape with a wide range of perspectives on MiCAR’s impact. Finance is evolving from static, fragmented systems into adaptive architectures — self-governing frameworks that adjust in real time while maintaining trust, compliance and strategic coherence.
The keynote sessions explored the EU’s perspective, offered insights from other countries, and compared developments with non-European markets, showing how MiCAR has influenced global crypto regulation. Further sessions covered the Dutch government’s reflections alongside practical experiences from CASPs, issuers, and suppliers, addressing compliance challenges and day-to-day realities of implementation. A recurring theme was the competitive gap: European stablecoin companies face clear disadvantages compared to their international counterparts, raising concerns about Europe’s position in the global market.
In the closing presentation, it was emphasized that tokenisation creates new opportunities for the real economy by treating finance as a means rather than an end. Within Web3, tokens function as secure “containers” that can carry any form of value, with financial assets representing only one part of their potential. Distributed ledger technology (DLT), or blockchain, extends far beyond its technical dimension, serving as a foundation for a more decentralised, inclusive, and democratic society. To match this transformation, regulation must adapt, embracing a bottom-up approach that fully acknowledges the disruptive power of these technologies.
To keep up the lively discussions in an interactive panel led by Erich Schnoeckel, experts debated whether the digital euro should rely on a public or private blockchain, echoing ECB warnings that U.S.-backed stablecoins could tighten Europe’s dependence on USD-driven payment systems. The discussion, framed by a year of MiCAR implementation, highlighted lessons learned, practical challenges and the potential contours of a future “MiCAR 2.0” in shaping digital asset regulation.
The closing remarks, delivered by a principal economist from the European Commission, reminded the importance of continued dialogue as the industry navigates this transformative period.
Key Takeaways
The 2Tokens Symposium highlighted the realities of crypto regulation and the broad potential of tokenisation. From SME financing and financial inclusion to global competitiveness, programmable payments, and tokenised ecosystems, it is reshaping economies and paving the way for new currencies such as CBDCs and stablecoins.
Practical realities of MiCAR compliance: In some cases, providers submitted more than 300 documents to meet regulatory requirements, underlining the administrative and legal complexities of this process.
Stablecoins under scrutiny: While gaining traction, they continue to face risks tied to traditional financial markets, given their reliance on yield from backing assets.
Compliance as an enabler: Across perspectives - from regulators to market participants - there was a shared recognition that compliance and legal teams are no longer seen as obstacles but as crucial partners in the commitment to building responsible and sustainable innovation.
A sector at a turning point: The integration of digital assets into the regulated financial system is approaching an inflection point, making collaboration and dialogue more important than ever.
These conversations manifested the gap between MiCAR in theory and in practice, while acknowledging the progress being made in bridging it.
Looking Ahead
The symposium concluded with reflections on the future and a lively networking session, where participants continued the conversation on both the progress achieved and the challenges that lie ahead as the industry prepares for the next phase of regulation. Looking toward MiCAR 2.0, the insights shared will be instrumental in shaping a digital asset ecosystem that is secure, transparent, and innovation-driven.
What stood out most is the industry’s shared commitment to building a future-proof financial landscape and the recognition that such open dialogue is essential for tokenization and digital assets to develop responsibly.
This vision also comes to life in our ongoing Finternet work, looking into how tokenized real-world assets and stablecoin integration can connect the physical and digital economy.
Beyond the symposium, we are proud to contribute to the international dialogue at major industry forums, where regulation, post-trade transformation and tokenization remain central to the conversation. 2Tokens will carry on fostering this dialogue and supporting the path forward.
If you share this vision, we invite you to join our community and help us drive a future-proof tokenization landscape that balances innovation with responsibility.