2026-04-01
29 minutes

Ep 64: When Tokens Don’t Fit the Rules: LSTs & MiCA

Regulation
Fundamentals

About this episode

Liquid staking tokens may sound like a niche corner of crypto, but they raise a much bigger question: can regulation actually keep up with decentralized systems? Juan Ignacio Ibañez of the MiCA Crypto Alliance dicusses why LSTs are so hard to classify under MiCA, and why that ambiguity creates real compliance risk for platforms and service providers. The conversation moves beyond labels to a deeper issue: what happens when existing rules are built for assets with issuers, managers, and clearer boundaries than Web3 often provides.

Listen on Spotify and Apple Music.

Discover more in their working paper: Crypto-asset Taxonomy for Investors and Regulators

Guests

Sylvia Sanchez

Sylvia Sanchez

Project Manager & Consultant

Sylvia is Project Manager of the Avalanche Policy Coalition. She is an Economist, podcast host, blockchain educator, and dynamic speaker, combining the technical side with her creative twist and connecting with multiple cultures.

Juan Ignacio Ibañez

Juan Ignacio Ibañez

The Policy Layer Podcast

Our podcast feels like having a coffee with the people shaping the future of blockchain and crypto regulation throughout the world. We’re curious, we ask bold questions, and we keep the conversation clear and real.

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