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European Trade Group Warns Against Excluding DeFi from MiCA Regulations
The Association of European Financial Markets (ASME) has called for the DeFi industry to be included within the scope of regulations on the encrypted asset market.
As MiCA regulations exclude DeFi and NFTs, the trade group noted that excluding DeFi could pose unintended risks to financial stability and potential ripple effects.
The trade group recommends developing a risk-based classification system for DeFi activities and digital assets, along with a consistent regulatory framework and varying degrees of centralization.
MiCA is currently in a consultation phase, and the EU will start a three-stage consultation process in July.
Regarding whether DeFi should be included in the supervision, my position is still the same. If it is CEX today, the management is very reasonable. After all, the centralized platform has a lot of information that is not transparent enough; but for DEX, most of the information can be found on the chain. It does not have much impact if it is not listed. Maybe someone will use "money laundering" ’ to attack this issue.
If this is the case, is it reasonable to include all services including OTC? This should be discussed more than DeFi 🤔