France wants to close MiCA's biggest loophole — and it's aiming at the exchanges, not the protocols.
The Treasury, AMF, Banque de France and ACPR jointly told the European Commission this week that regulated platforms should be liable "for certain incidents affecting clients where they actively facilitated access" to DeFi. Under the proposal, any CASP routing customers into a protocol would have to vet its code first and keep monitoring it for vulnerabilities — full obligations for the big players, lighter ones for smaller shops.
The catch: this is still a proposal. It feeds the Commission's MiCA review report due June 30, 2027, and needs actual legislation before it bites. The industry is already split — the Cardano Foundation told the same consultation to leave DeFi alone.
But if Brussels adopts this, EU exchanges become DeFi's compliance layer — a major shift in who carries the risk. Does that actually make DeFi safer for users, or just push the activity offshore?
$BTC $ETH #CryptoNews #MiCA #DeFi #Regulation
The Treasury, AMF, Banque de France and ACPR jointly told the European Commission this week that regulated platforms should be liable "for certain incidents affecting clients where they actively facilitated access" to DeFi. Under the proposal, any CASP routing customers into a protocol would have to vet its code first and keep monitoring it for vulnerabilities — full obligations for the big players, lighter ones for smaller shops.
The catch: this is still a proposal. It feeds the Commission's MiCA review report due June 30, 2027, and needs actual legislation before it bites. The industry is already split — the Cardano Foundation told the same consultation to leave DeFi alone.
But if Brussels adopts this, EU exchanges become DeFi's compliance layer — a major shift in who carries the risk. Does that actually make DeFi safer for users, or just push the activity offshore?
$BTC $ETH #CryptoNews #MiCA #DeFi #Regulation