【Market Flash】Being on a public blockchain doesn’t mean you’re providing financial services! On October 21, the Cardano Foundation urged the EU: fix MiCA first, and don’t rush to impose separate new rules on DeFi and staking. In its September 30 response, it said that when ADA holders delegate their tokens for staking, they don’t transfer custody and their tokens remain unlocked—so this shouldn’t be conflated with outsourced asset management. Legal adviser Buergi stressed that regulation should focus on substance and risk, not technology. ESMA takes the opposite view, arguing that DeFi access providers should be licensed and that staking and lending should face stricter disclosure requirements. One side fears overregulation, the other fears gaps in oversight—which side are you on when it comes to Europe’s approach?
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#Cardano #MiCA #DeFi
(Source: Cryptopolitan)
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