ESMA Proposes Expanding MiCA to Cover DeFi Gateways, Staking and Crypto Lending
JH Kim
Summary
- The European Securities and Markets Authority, or ESMA, has proposed expanding the scope of MiCA to include decentralized finance (DeFi) gateways, staking, and crypto lending.
- The proposal also includes an expanded MiCA scope and tighter restrictions on services tied to unapproved stablecoins.
- ESMA also presented a plan to impose stricter restrictions on services related to unapproved stablecoins.
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The European Securities and Markets Authority, the European Union’s securities watchdog, has proposed expanding the scope of the Markets in Crypto-Assets regulation, or MiCA, to cover decentralized finance gateways, staking and crypto lending services.
Cointelegraph reported on October 30 that the proposal would also tighten restrictions on services tied to unapproved stablecoins.
The expanded scope would include gateways that give users access to decentralized finance services, as well as staking and crypto lending.
ESMA also proposed stricter limits on services related to stablecoins that have not been approved.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.