European lawmakers have not yet defined “distribution” yet, even if the regulatory authorities have begun to become a major focus of cryptocurrency policy in 2026 to prepare for the decentralized financial (Defi).
The world’s first comprehensive regulatory framework for the Crypto industry, the Crypto Assets Regulation (MICA) market was effective on December 30, 2024. Among the goals are to strengthen investor protection, prevent fraud, and resolve the preliminary management of Stablecoin.
Nevertheless, as the MICA enters the final implementation, policy makers are paying attention to Defi regulations, which are not resolved by many questions, according to Vyara Savova, chief policy officer of European encryption initiative (EUCI).
Savova said on June 4 at Cointelegraph’s chain reaction X space show, saying that the Defi protocol remains in the regulatory rimbo.
Savova added: Savova added: Savova added:
“Nobody knows what EU policy makers mean by defi.”
Savova said in mid -2012 that block authorities will begin to interpret how to legally define decentralization.
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The initial MICA framework has been criticized for the gap on distributed protocols, and it was necessary to comply with the same license and to know the customer (KYC) requirements as a traditional financial service company.
However, Recital 22, a provision of this bill, said that the completely decentralized password analysis service provider should “not belong to the scope of this regulation.”
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MICA 2 does not occur: EU encryption policy expert
The final implementation of the MICA will be held at the end of 2024, but the members of the National Assembly are revising every 12 to 18 months regarding the potential gap of the regulations.
However, according to Marina Markezic, the executive director and co -founder of EUCI, the MICA II framework will not develop despite the many previous requests of Christine Lagarde, chairman of the European Central Bank.
“You’ve probably heard about potential mico II. It doesn’t happen.”
She added that continuous discussions on Stablecoin can lead to legislative updates, not the entire sequel to the MICA.
The EU has not yet launched a new funding rules that limit the use of personal coins and anonymous encryption accounts. These provisions will be implemented in 2027.
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