EU opens consultation on MiCA stablecoin rules and DeFi gaps

The European Commission has officially launched a public consultation to review the Markets in Crypto-Assets Regulation (MiCA) framework, seeking feedback until August 31, 2026. This initiative aims to assess whether the current regulations remain effective given the rapid evolution of global crypto markets since the framework took effect in 2024. A primary focus of the review is the classification of digital assets, specifically addressing the ambiguity between crypto assets and traditional financial instruments like tokenized fund interests and synthetic assets. The Commission is re-evaluating the prohibition on interest-bearing stablecoins, questioning whether current restrictions on remuneration should be maintained or revised. Additionally, the consultation explores regulatory gaps regarding decentralized finance (DeFi), staking, and lending, which currently remain largely outside the scope of MiCA. Major industry players, including Coinbase, have expressed support for this review as an opportunity to refine the future of finance in Europe. This regulatory assessment occurs just ahead of the July 2026 deadline, by which all Crypto Asset Service Providers (CASPs) must be fully authorized to operate within the EU.

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