- EU panel has urged for a review of DeFi, staking, and NFTs under MiCA.
- Lawmakers back euro stablecoins and warn against national rules.
European lawmakers have moved to reassess the scope of the bloc’s crypto framework, calling on the European Commission to evaluate whether emerging segments such as decentralized finance, staking, and NFTs require dedicated oversight.
The European Parliament’s Committee on Economic and Monetary Affairs (ECON) adopted a nonbinding report that outlines its position on digital asset regulation, Cointelegraph reported.
The report asks the Commission to examine crypto lending and borrowing, staking, DeFi, and non-fungible tokens, and determine whether these activities should fall under the Markets in Crypto-Assets Regulation (MiCA) or a future regime.
The report, drafted by Belgian lawmaker Johan Van Overtveldt, will go to a plenary vote on July 6. If approved, it will formalize Parliament’s stance but will not introduce new legal obligations.
Lawmakers also called for consistent application of MiCA across member states, warning that additional national rules could fragment the market and create an uneven playing field for crypto firms.
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Focus Shifts Beyond MiCA
The committee further encouraged the development of euro-denominated stablecoins within the MiCA framework. It said such assets could support faster and cheaper cross-border payments and strengthen the euro’s role in global finance. The report added that stablecoins could complement tokenized bank deposits and central bank digital currencies.
The position reflects a broader policy shift. Earlier concerns around stablecoins intensified after market disruptions in 2023 linked to bank failures and reserve exposure. The latest recommendations indicate a more supportive stance under regulated conditions.
The Commission has already begun reviewing MiCA. In May, it launched a consultation to assess whether the framework should expand to cover DeFi, staking, lending, NFTs, and tokenized financial assets. The review also includes discussions on the treatment of interest-bearing stablecoins.
MiCA’s transitional period ends on July 1, after which crypto asset service providers must obtain authorization to continue operating across the European Union.
