Replying to Avatar Juraj

Ok. So Square merchants can accept Bitcoin payments by default. They get paid fiat if they don't want to deal with Bitcoin (default on) or keep the Bitcoin (if they opt in). This adds four million Bitcoin accepting merchants.

When will this happen in European union? Never, because of MiCA. But EU has an innovation compass!
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The Bohemian Bitcoiner 🇬🇧🇨🇿 7mo ago

Why does MiCA stop allowing businesses in the EU accept Bitcoin? Or just to convert it?

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Juraj 7mo ago

They need to do full KYC on the paying client.

So either you are at a checkout and verify with your id or you preverify and pay with some kind of login. Then it's not a Bitcoin payment, it's basically a payment through some centralized KYC service such you can fund with Bitcoin.

The exact opposite of removing friction and building network effects.