Can EU improve MiCA without new rules? Cardano Foundation makes its case

The Cardano Foundation is against bringing decentralized finance, staking and other blockchain activities under new European Union crypto regulations and argues that policymakers should rather focus on improving the existing Markets in Crypto-Assets Regulation. Cardano Foundation has urged EU policymakers to avoid introducing new regulations for DeFi and staking. The Foundation wants regulators to distinguish between direct blockchain participation and financial services operated by intermediaries that control customer assets. In its September 30 consultation response, the Foundation called for clearer rules covering hybrid tokens, stablecoins and NFTs while addressing overlaps with existing EU financial legislation.

Source: crypto.news