Summary
The European Securities and Markets Authority (ESMA) proposed tightening recommendations for MiCA, focusing on DeFi gateways, staking, and lending. These include plans to restrict non-compliant stablecoins and prohibit crypto firms from engaging in MiCA-licensed activities involving such stablecoin…
Key points
- Teams operating DeFi, staking, or stablecoin-related services in the EU need to grasp the new boundaries of what may be considered regulated activity.
- If implemented, non-compliant stablecoins and unauthorized DeFi access would face clearer enforcement risk in the EU.
- Firms need to reexamine marketing materials, stablecoin partners, and DeFi front-end design to avoid falling under new definitions of regulated activity.
Editorial note
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