Cardano Foundation Urges EU Not to Extend MiCA Rules to DeFi, Staking
Summary
- The Cardano Foundation said it had urged the EU not to extend MiCA rules to DeFi and staking.
- The Cardano Foundation said crypto regulation should be designed around financial risk, not whether a specific technology is used.
- It said any regulation of DeFi and staking should focus on the financial risks tied to those services, rather than the technology itself.
Forecast Trend Report by Period
The Cardano Foundation has urged the European Union not to expand the scope of its Markets in Crypto-Assets regulation, or MiCA, to cover decentralized finance, or DeFi, and staking.
Cointelegraph reported on October 21 that the Cardano Foundation opposes any EU move to extend MiCA to DeFi and staking.
The foundation said crypto regulation should be designed around financial risk, not whether a specific technology is used.
It said any rules for DeFi and staking should focus on the financial risks tied to those services rather than the technology itself.
reporter1@bloomingbit.ioHello, I'm a reporter at bloomingbit