„… occur without the need for intermediaries such as banks,allowing for faster, cheaper, and more …” „… exceptions both malicious and accidental, and min‐imize the need for trusted intermediaries. Related economic …” „… intermediaries or centralized institutions. The backboneof DeFi is smart contracts, which are programs executed …”

„… interconnected nature of crypto assetservice providers, traditional financial intermediaries and DeFi market …” „… protecting consumers,may still inadvertently place excessive burdens on financial intermediaries,thereby …” „… even if there are stilldrawbacks. Centralized financial intermediaries and a specific spectrumof …”

„… Crypto-assets Regulation (MiCAR; COM/2020/593 final) with regardto the regulation of centralized intermediaries …” „…  Introduction2278910the role of the EU Markets in Crypto-assets Regulation (MiCAR) and theEuropean Securities …” „… future. The focus lies on regulated intermediaries, not2 Introduction302829on the perceived regulation by …”

„… contribute to the tendency to scapegoatintermediaries. Despite the fact that intermediaries add value to …” „… costs incurred by intermediaries, such as thoseassociated with product promotion, storage, and delivery …” „… public interest. Thecrisis proved that managers of financial intermediaries had the potentialto generate …”

„… policy goals of MiCAR and classificationof crypto assets4.2.1.2115Interim conclusion4.2.1.3 126Regulated …” „… and investment schemes4.2.5 149The role of crypto asset mixers as privacy enhancingprotocols and …” „… financial intermediaries4.2.6150DORA – digital operational resilience4.2.7 154Global financial regulation …”

„… intermediaries, but it also speeds up the entire process, turn-ing real estate into a liquid asset. With the 0x …” „… likely pioneered by the CryptoPunks collection in 2017; since then, other others have emerged. BAYC is …” „… pertaining to a certain time or ob-jective. In the crypto community, this is known as a cryptocurrency …”

„… . (n. 171), 28. 26 Recht in Afrika – Law in Africa – Droit en Afrique 22 (2019) intermediaries–such as …” „… of sta‐ tionary ‘Crypto-ATMs’, allowing users to buy and sell cryptocurrencies using cash or credit …” „… being supplemented with a growing number of Crypto-ATMs, e.g. in Kenya or Botswana.66 Moreover, it has …”

„… crypto-currency “bitcoin” as “evil” (Krugman 2013), the economist and Nobel Prize laureate Joseph Stiglitz makes …” „… the following assessment of crypto-currencies: “You cannot have a means of payment that is based on …” „… intermediaries providing trust seem to become obsolete. This shift could contain a paradigmatic improvement for …”

„… these issues and explores two primary questions: How are crypto- 211 markets impacting drug distribution …” „… span national borders, with many different intermediaries necessarily separating the ‘farm’ or ‘factory …” „… ’ gate and the user on the street. These intermediaries typically include a variable mix of international …”