Cardano Foundation urges EU to regulate DeFi and staking under existing laws

The Cardano Foundation has called on European Union regulators to apply existing financial legislation to decentralized finance (DeFi) and staking activities, cautioning against the creation of new, separate regulations specifically targeting blockchain-based technologies. In a recent blog post summarizing its 19-page submission to the European Commission, the foundation emphasized that legal frameworks should address financial activities based on their economic substance and risk profiles, rather than focusing on the underlying technology. The foundation represents the Cardano blockchain community and supports the development and adoption of the Cardano network.

Source: CoinTurk News