I traced the definitions a bit and it applies to: " (8)‘crypto-asset service provider’ means any person whose occupation or business is the provision of one or

I traced the definitions a bit and it applies to: " (8)‘crypto-asset service provider’ means any person whose occupation or business is the provision of one or more crypto-asset services to third parties on a professional basis; " "‘crypto-asset service’ means any of the services and activities listed below relating to any crypto-asset: (a)the custody and administration of crypto-assets on behalf of third parties; (b)the operation of a trading platform for crypto-assets; (c)the exchange of crypto-assets for fiat currency that is legal tender; (d)the exchange of crypto-assets for other crypto-assets; (e)the execution of orders for crypto-assets on behalf of third parties; (f)placing of crypto-assets; (g)the reception and transmission of orders for crypto-assets on behalf of third parties (h)providing advice on crypto-assets; " which is extremely broad. In particular '" (14)‘the execution of orders for crypto-assets on behalf of third parties’ means concluding agreements to buy or to sell one or more crypto-assets or to subscribe for one or more crypto-assets on behalf of third parties; " is the most worrying - it appears to make block generation itself illegal (because of the kyc requirements) on any blockchain that can do anything more than simple transfers (which includes even bitcoin), because every transaction could be a dex swap of some type, knowingly or unknowingly to the block generator. On the other hand, the additional point is "Crypto-asset service providers that are authorised to execute orders for crypto-assets on behalf of third parties shall take all necessary steps to obtain, when executing orders, the best possible result for their clients taking into account the best execution factors of price, costs, speed, likelihood of execution and settlement, size, nature or any other consideration relevant to the execution of the order, unless the crypto-asset service provider concerned executes orders for crypto-assets following specific instructions given by its clients." so clearly the intention was to regulate cexes, but the definition language is dangerously broad. If interpreted in the most strict way, it would basically make all blockchains that can't run on anonymous home nodes force every user to kyc - while anonymous home nodes would break the law, it would be unenforceable without China-style network filtering at least. https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:52020PC0593&from=EN https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CEL...