EU grapples with DeFi vaults as MiCA extension faces hurdles

By Michael FawnThe European Commission is actively consulting on extending its landmark Markets in Crypto-Assets Regulation (MiCA) to encompass decentralized finance (DeFi) and crypto lending, specifically targeting “lending vaults.” This move comes as Brussels acknowledges significant challenges in applying the existing MiCA framework, designed for identifiable centralized entities, to the inherently operator-less nature of many decentralized protocols across the 27 EU member countr