Leading participants within the blockchain space label the arrest of Kaili as reversing the facilitative platform created to nurture the digital assets ecosystem.
Impact of Kaili’s Arrest
Before her arrest, Kaili served alongside 13 vice presidents in the EU Parliament. News of her arrest and charges preferred by the Belgian prosecutors on December 10 raised concerns about blockchain’s future adoption in Europe. Crypto proponents perceive the arrest as likely to slow the EU approach to blockchain-related issues.
Kaili’s arrest arises from her conduct beyond the crypto ecosystem. The charge sheet indicates Kaili is facing prob by Belgian authorities for involvement in money laundering. Besides corruption, the prosecutors allege Kaili facilitated criminal entities that involved top-ranking policymakers in Qatar and Europe.
During the raid, the Belgian authorities confirmed seizing computers, phones, and 600,000 euros. Furthermore, the police officers admitted to arresting three other individuals reportedly linked to the prob.
The arrest led to Kaili’s suspension. The EU Parliament she joined in 2014. Her tenure is marked by vocal support for easing European cryptos and blockchain adoption.
Kaili Input in Crypto Space
Kaili’s active support for blockchain technology has shaped EU governance on crypto-related activities. Erwin Voloder, senior policymaker within the European Blockchain Association, confessed that though one cannot downplay the allegations Kaili is battling, her expulsion from the EU Parliament mutes the much-needed crypto voice.
Voloder lauded Kaili’s input in steering the DLT Pilot project. He added that Kaili actively enhanced the 2016 Blockchain Resolution when serving in the shadow rapporteur role. Voloder observed that Kaili lobbied to elevate blockchain technology in the 2020 InvestEU deliberations.
Kaili is commended for individually exploring nonfungible tokens (NFTs) viability and inclusion in the recent Markets in Crypto-Assets (MiCA) legislation. Voloder considers Kaili’s input to examine NFTs utilization in industrial and financial services yielded a deserving acceptability of the blockchain technology.
Matching Ahead in the Absence of Kaili
Voloder lamented that Kaili’s expulsion occurred when her crypto voice is needed to counter uninformed negative sentiments against Web3 and blockchain dominated the mid-December German Bundestag.
Voloder decried the pervasive nature of negative sentiment against blockchain technology. He attributed the outsized criticism towards crypto as affirming the hyper-partisan climate leading to the outsized hindrance to blockchain technology.
He observed that the recent collapse of major players in the cryptocurrency space, such as Three Arrows Capital, FTX, and Terra-Luna, has equally branded the segment guilty by association. Nevertheless, Voloder is confident that Kaili’s imprint will spur conversations among EU parliament and crypto experts.
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