EU Regulators Propose MiCA Revision to Add DeFi Access Services to Scope

The European Securities and Markets Authority (ESMA) has submitted recommendations to amend the crypto-asset regulation MiCA. The proposal includes designating companies that provide access services to DeFi protocols as newly regulated entities.

Clearer disclosure and regulatory compliance requirements are also called for in staking and crypto lending and borrowing services.

The ESMA is also recommending a ban on trading platforms subject to MiCA rules from offering stablecoin-related services that do not meet MiCA requirements.

Supervisory powers over offshore platforms operating without authorisation would be strengthened as part of the proposal.