Utkarsh Kumar

Crypto & Corporate Lawyer

[Utkarsh Kumar @22letmetalk]

5/ If you touch multiple jurisdictions, none of these is a template for the others.
Have questions where you fall DM or reach out to us @Infinilex

[Utkarsh Kumar @22letmetalk]

Three months, three major economies, three completely different points on the crypto regulation clock. Here's what the EU, UK, and US each actually did and why they're not on the same road at all 🧵
#Web3 #Crypto #MiCA

[Utkarsh Kumar @22letmetalk]

4/ 🇺🇸US
No single body owns the finish line. Congress can pass a law, the SEC can write a rule, and neither is required to wait for the other which is exactly why nobody agrees on when this actually ends.

[Utkarsh Kumar @22letmetalk]

6/ Serve EU clients? Confirm you're on the ESMA register today, not next quarter. The reverse solicitation exception is narrow, not a loophole.
US-only? Don't assume the EU's timeline previews yours.
Have questions DM or reach out to us @Infinilex

[Utkarsh Kumar @22letmetalk]

On July 1, 2026 the EU closed a chapter of #crypto regulation the US hasn't even opened. MiCA's transitional period just ended across all 27 member states.
Here's the actual comparison. 🧵

[Utkarsh Kumar @22letmetalk]

5/ That's the real difference not "who regulates harder," but structure. #MiCA is one law, one supervisor (ESMA), passporting rights across the bloc. The US path is a federal agency, a stalled bill, and a growing state patchwork, all moving on different clocks.

[Utkarsh Kumar @22letmetalk]

6/ Conclusion
"We believe we're exempt" with no figures, no activity mapping, no dated analysis isn't a defense it's a hope.
By July 1, 2026, the law requires a license, pending application, or a documented exemption determination.
Have Qs DM or reach out to us @Infinilex

[Utkarsh Kumar @22letmetalk]

You saw the #DFAL update. You assumed you're exempt. Did you actually confirm it?🧵
The biggest mistake a #web3 founder can make right now, read about CAL's DFAL, see the word "exemption," recognize your business in the description, and move on. No memo. Just a mental check

[Utkarsh Kumar @22letmetalk]

5/ "We work with a bank, so we're covered."
The exemption applies to the bank itself not automatically to every partner. A banking relationship doesn't launder your own licensing obligation.
Also: DFAL and Money Transmission Act exemptions are separate analyses

[Utkarsh Kumar @22letmetalk]

6/ Conclusion
The teams most exposed here aren't acting in bad faith, they've just deprioritized a "boring" state filing while chasing federal headlines. Pull your CAL user data and get the exemption analysis in writing this week. Don't wait for an enforcement letter.

[Utkarsh Kumar @22letmetalk]

While everyone's watching Washington, #California quietly turned on a real licensing requirement for #crypto businesses. It took effect July 1. 🚨

Here's what you need to know. 🧵

[Utkarsh Kumar @22letmetalk]

5/ The exemption analysis is where the real legal work happens. Whether your activity is in scope, and whether an exemption applies, needs a fact-specific review, not a checkbox.