Altszn.com
  • Home
  • Crypto
    • Altcoins
    • Bitcoin
    • Ethereum
    • Monero
    • XRP
    • Zcash
  • Web3
  • DeFi
  • NFTs
No Result
View All Result
Altszn.com
  • Home
  • Crypto
    • Altcoins
    • Bitcoin
    • Ethereum
    • Monero
    • XRP
    • Zcash
  • Web3
  • DeFi
  • NFTs
No Result
View All Result
Altszn.com
No Result
View All Result

DeFi Regulation Needs More Than MiCA, EC Hears

Altszn.com by Altszn.com
November 20, 2022
in Blockchain, Crypto, DeFi, Web3
0
DeFi Regulation Needs More Than MiCA, EC Hears
399
SHARES
2.3k
VIEWS
Share on FacebookShare on Twitter


The European Union’s (EU) Markets in Crypto Assets (MiCA) regulation isn’t broad enough to cover decentralized finance, a finance professor said during a presentation to the European Commission (EC) on Friday (Oct. 21).

Tarik Roukny said that decentralized finance (DeFi) represents “severe threats to consumers, producers and the economy at large,” according to a Coindesk report.

Noting that the EU’s MiCA will only create a legal basis for oversight of traditional entities, leaving DeFi largely untouched, Roukny suggested that a voluntary regulatory framework for decentralized organizations might be the way to go.

“You need to find incentives to make it attractive for protocol designers and protocol developers to enter a policy framework or to enter the sandbox you have in mind,” he said, per the report.

Roukny’s comments come at a time when regulators around the world are turning their attention to DeFi and the significant challenges decentralized organization and anonymous participation create for governance and oversight.

Speaking at the same event, Mattias Levin, deputy head of the EC team responsible for digital finance, said that Roukny’s contribution “is part of our ambition to understand DeFi further, to inform our thinking about how to address any concerns and potential public policy consequences.

“DeFi is rapidly emerging, albeit from a low base — but there’s a strong policy interest in understanding the phenomenon further, and to try to see what are the economics and the legal implications of it,” Levin said.

The Bank of England (BoE) has also been mulling the implications of decentralized finance.

Read on: BoE Official: ‘Serious Deficiencies’ in Crypto Governance

On Wednesday (Oct. 19), one BoE official observed that many of the protocols governing decentralized crypto projects fail to ensure accountability in the same way as their centralized equivalents.

Like Roukny, Carolyn Wilkins noted that the current legal framework is ill-equipped to deal with decentralized organizational forms. She suggested that important crypto infrastructure needs to be “owned and operated by identifiable legal entities.”

For all PYMNTS EMEA coverage, subscribe to the daily EMEA Newsletter.

How Consumers Pay Online With Stored Credentials
Convenience drives some consumers to store their payment credentials with merchants, while security concerns give other customers pause. For “How We Pay Digitally: Stored Credentials Edition,” a collaboration with Amazon Web Services, PYMNTS surveyed 2,102 U.S. consumers to analyze consumers’ dilemma and reveal how merchants can win over holdouts.

See More In: cryptocurrency, decentralized finance, DeFi, EC, EMEA, EU, europe, Legislation, Markets in Crypto-assets, MICA, News, regulations, What’s Hot



Read More: news.google.com

Tags: DeFihearsMiCARegulation
ADVERTISEMENT

Recent

Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee

Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee

May 14, 2025
Crypto VC deals drop in Q1, but funding more than doubles: PitchBook

Crypto VC deals drop in Q1, but funding more than doubles: PitchBook

May 14, 2025
Ether Nears $2.7K, Dogecoin Zooms 9% to Keep Cheery Mood Ongoing

Ether Nears $2.7K, Dogecoin Zooms 9% to Keep Cheery Mood Ongoing

May 14, 2025

Categories

  • Bitcoin (4,880)
  • Blockchain (11,447)
  • Crypto (9,390)
  • Dark Web (551)
  • DeFi (8,414)
  • Ethereum (4,926)
  • Metaverse (7,576)
  • Monero (290)
  • NFT (1,504)
  • Solana (5,054)
  • Web3 (20,763)
  • Zcash (509)

Category

Select Category

    Advertise

    Advertise your site, company or product to millions of web3, NFT and cryptocurrency enthusiasts. Learn more

    Useful Links

    Advertise
    DMCA
    Contact Us
    Privacy Policy
    Shipping & Returns
    Terms of Use

    Resources

    Exchanges
    Changelly
    Web3 Jobs

    Recent News

    Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee

    Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee

    May 14, 2025
    Crypto VC deals drop in Q1, but funding more than doubles: PitchBook

    Crypto VC deals drop in Q1, but funding more than doubles: PitchBook

    May 14, 2025

    © 2022 Altszn.com. All Rights Reserved.

    No Result
    View All Result
    • Home
      • Home – Layout 1
      • Home – Layout 2
      • Home – Layout 3

    © Altszn.com. All Rights Reserved.

    • bitcoinBitcoin (BTC) $ 103,204.00
    • ethereumEthereum (ETH) $ 2,585.20
    • tetherTether (USDT) $ 1.00
    • xrpXRP (XRP) $ 2.55
    • bnbBNB (BNB) $ 651.42
    • solanaSolana (SOL) $ 175.42
    • usd-coinUSDC (USDC) $ 0.999934
    • dogecoinDogecoin (DOGE) $ 0.231079
    • cardanoCardano (ADA) $ 0.797835
    • tronTRON (TRX) $ 0.276018
    • staked-etherLido Staked Ether (STETH) $ 2,578.10
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 102,881.00
    • suiSui (SUI) $ 3.92
    • chainlinkChainlink (LINK) $ 16.89
    • wrapped-stethWrapped stETH (WSTETH) $ 3,090.90
    • avalanche-2Avalanche (AVAX) $ 25.18
    • stellarStellar (XLM) $ 0.304535
    • shiba-inuShiba Inu (SHIB) $ 0.000016
    • hedera-hashgraphHedera (HBAR) $ 0.206148
    • hyperliquidHyperliquid (HYPE) $ 24.91
    • leo-tokenLEO Token (LEO) $ 8.80
    • the-open-networkToncoin (TON) $ 3.26
    • bitcoin-cashBitcoin Cash (BCH) $ 403.09
    • polkadotPolkadot (DOT) $ 5.00
    • pi-networkPi Network (PI) $ 1.07
    • litecoinLitecoin (LTC) $ 99.75
    • wethWETH (WETH) $ 2,588.04
    • usdsUSDS (USDS) $ 0.999814
    • moneroMonero (XMR) $ 346.91
    • wrapped-eethWrapped eETH (WEETH) $ 2,743.08
    • pepePepe (PEPE) $ 0.000014
    • bitget-tokenBitget Token (BGB) $ 4.73
    • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999121
    • ethena-usdeEthena USDe (USDE) $ 1.00
    • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 103,200.00
    • whitebitWhiteBIT Coin (WBT) $ 30.34
    • uniswapUniswap (UNI) $ 6.60
    • bittensorBittensor (TAO) $ 449.65
    • nearNEAR Protocol (NEAR) $ 3.06
    • aptosAptos (APT) $ 5.80
    • daiDai (DAI) $ 0.999891
    • aaveAave (AAVE) $ 227.39
    • ondo-financeOndo (ONDO) $ 1.03
    • okbOKB (OKB) $ 54.05
    • kaspaKaspa (KAS) $ 0.119988
    • jito-staked-solJito Staked SOL (JITOSOL) $ 211.32
    • internet-computerInternet Computer (ICP) $ 5.66
    • ethereum-classicEthereum Classic (ETC) $ 19.80
    • crypto-com-chainCronos (CRO) $ 0.102961
    • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
    • bitcoinBitcoin (BTC) $ 103,204.00
    • ethereumEthereum (ETH) $ 2,585.20
    • tetherTether (USDT) $ 1.00
    • xrpXRP (XRP) $ 2.55
    • bnbBNB (BNB) $ 651.42
    • solanaSolana (SOL) $ 175.42
    • usd-coinUSDC (USDC) $ 0.999934
    • dogecoinDogecoin (DOGE) $ 0.231079
    • cardanoCardano (ADA) $ 0.797835
    • tronTRON (TRX) $ 0.276018
    • staked-etherLido Staked Ether (STETH) $ 2,578.10
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 102,881.00
    • suiSui (SUI) $ 3.92
    • chainlinkChainlink (LINK) $ 16.89
    • wrapped-stethWrapped stETH (WSTETH) $ 3,090.90
    • avalanche-2Avalanche (AVAX) $ 25.18
    • stellarStellar (XLM) $ 0.304535
    • shiba-inuShiba Inu (SHIB) $ 0.000016
    • hedera-hashgraphHedera (HBAR) $ 0.206148
    • hyperliquidHyperliquid (HYPE) $ 24.91
    • leo-tokenLEO Token (LEO) $ 8.80
    • the-open-networkToncoin (TON) $ 3.26
    • bitcoin-cashBitcoin Cash (BCH) $ 403.09
    • polkadotPolkadot (DOT) $ 5.00
    • pi-networkPi Network (PI) $ 1.07
    • litecoinLitecoin (LTC) $ 99.75
    • wethWETH (WETH) $ 2,588.04
    • usdsUSDS (USDS) $ 0.999814
    • moneroMonero (XMR) $ 346.91
    • wrapped-eethWrapped eETH (WEETH) $ 2,743.08
    • pepePepe (PEPE) $ 0.000014
    • bitget-tokenBitget Token (BGB) $ 4.73
    • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999121
    • ethena-usdeEthena USDe (USDE) $ 1.00
    • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 103,200.00
    • whitebitWhiteBIT Coin (WBT) $ 30.34
    • uniswapUniswap (UNI) $ 6.60
    • bittensorBittensor (TAO) $ 449.65
    • nearNEAR Protocol (NEAR) $ 3.06
    • aptosAptos (APT) $ 5.80
    • daiDai (DAI) $ 0.999891
    • aaveAave (AAVE) $ 227.39
    • ondo-financeOndo (ONDO) $ 1.03
    • okbOKB (OKB) $ 54.05
    • kaspaKaspa (KAS) $ 0.119988
    • jito-staked-solJito Staked SOL (JITOSOL) $ 211.32
    • internet-computerInternet Computer (ICP) $ 5.66
    • ethereum-classicEthereum Classic (ETC) $ 19.80
    • crypto-com-chainCronos (CRO) $ 0.102961
    • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00