TREE NEWS update: The European Securities and Markets Authority has proposed MiCA rules covering DeFi gateways, staking and lending. The regulator also wants to bar crypto firms from all MiCA-licensable services involving noncompliant stablecoins, extending the restrictions to custody and transfers.
ESMA Proposes MiCA Rules for DeFi Gateways, Staking and Lending
AI take
The significance here is regulatory perimeter-setting rather than any single product ban: by naming DeFi gateways, staking and lending as MiCA-relevant, ESMA is signalling that access points and intermediation, not just token issuance, fall inside the framework. The stablecoin provision is the sharper edge, because extending noncompliance to custody and transfers effectively makes the compliant asset a precondition for a licence, not a parallel track. The open question is how gateway and staking definitions are drawn in final text, since that determines which EU-facing activity must re-paper or relocate.
Generated by AI for reference only.
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