MiCA architect says EU should prioritize tokenization over DeFi rules

European Commission adviser Peter Kerstens, a primary architect of the Markets in Crypto-Assets (MiCA) regulation, has suggested that the European Union should prioritize a comprehensive framework for real-world assets (RWA) and tokenization over attempting to regulate decentralized finance (DeFi). Speaking at the WAIB Summit Monaco 2026, Kerstens argued that DeFi represents a movement without clear representatives, making traditional legal enforcement against computer networks inherently difficult. This perspective emerges as the European Commission conducts a public consultation on the future of MiCA, which remains open for feedback until August 31, 2026. While the current MiCA framework approaches the end of its transitional period on July 1, 2026, the debate highlights a potential shift in regulatory focus toward the institutional integration of tokenized assets. The European Central Bank has simultaneously questioned the decentralization of major protocols like Aave, MakerDAO, and Uniswap, noting that top governance token holders often control over 80% of supply. By pivoting toward RWA and tokenization, EU regulators may seek to provide legal clarity for institutional adoption rather than imposing restrictive mandates on decentralized infrastructure. This strategic shift could significantly influence how global markets approach the intersection of traditional finance and blockchain technology.