ESMA Proposes Revisions to MiCA, Suggests New Regulatory Category for DeFi Gateway Enterprises

Techub News reports that the European Securities and Markets Authority (ESMA) has submitted recommendations to the European Commission for revisions to the Markets in Crypto-Assets Regulation (MiCA). ESMA proposes the establishment of a new regulated category of crypto services for enterprises that provide users with access to decentralized finance (DeFi) protocols, and introduces clearer disclosure and compliance requirements for staking, crypto lending, and borrowing. ESMA also recommends explicitly prohibiting MiCA-regulated crypto platforms from offering services related to stablecoins that do not comply with MiCA requirements, and strengthening regulatory authority over unauthorized overseas platforms. The above content is currently still part of the regulatory recommendations during the MiCA review stage and has not yet formally become new regulations. (Blockchain by Wu)