A Functional Inquiry into the Identification of Controlling Persons Behind Nominally Autonomous Protocols Robert Nogacki, Managing Partner, Kancelaria Prawna Skarbiec (Warsaw) Abstract This Article advances a single thesis: because neither the Markets in Crypto-Assets Regulation nor the emerging United States framework supplies a definition of “full decentralisation,” the dispositive question is not the taxonomic one—whether … Continue reading The Decentralisation Test Under the Clarity Act and MiCA: When a Decentralised Exchange Falls Within the Regulatory Perimeter