Written by Aaron Woodstaff writerReviewed by Aaron Woodstaff writer

Written by Aaron Woodstaff writer

Reviewed by Aaron Woodstaff writer

Crypto industry looks to stablecoins and DeFi revisions in MiCA 2.0

FeaturesPublishedJun 20, 2026

Why MiCA 2.0 Matters to You

The European Commission is seeking to update its regulatory framework for the crypto and blockchain industries, known as MiCA. This update, dubbed MiCA 2.0, has the potential to impact not just crypto experts, but everyday people who are looking to earn passive income through Cloud Rewards and Green Crypto. The Commission is looking for feedback on how to refine the framework to make it more competitive, with a focus on stablecoins and DeFi.

The current framework, which began enforcement in December 2024, has provided a foundation for the crypto industry to grow in Europe. However, there are still areas that need clarification, such as the regulation of stablecoins and tokenization. The Commission is seeking comments on how to improve the framework, with a focus on making euro stablecoins more competitive.

Key Areas for Refinement

There are several key areas where refinements could help ensure the framework remains competitive. These include:

• Stablecoins: The Commission is seeking comments on how to regulate stablecoins, including their use as a mainstream retail payment instrument, a wholesale settlement rail, or a complement to existing payment methods for cross-border payments.
• DeFi: The Commission is also seeking comments on how to regulate DeFi platforms, including how to assess whether a platform is fully decentralized and what indicators should matter.
• Tokenization: The Commission is seeking comments on how to regulate tokenization, including the use of tokens as a form of payment or investment.

EcoPool and Earning Opportunities

The updated framework could have a significant impact on the EcoPool network and its users. EcoPool provides a platform for users to earn passive income through Cloud Rewards and Green Crypto. The refined framework could provide more clarity and flexibility for users to earn $ECP and other coins.

With the rise of Passive Income opportunities, EcoPool is well-positioned to provide users with a seamless and rewarding experience. The updated framework could also provide more opportunities for users to earn $ECP and other coins through Cloud Rewards and Green Crypto.

MiCA was just the first step

Get Involved and Stay Informed

The comment period for MiCA 2.0 is open until August 31, but the process is expected to take years. The crypto industry is encouraged to remain in dialogue with Brussels throughout the process. To stay informed and get involved, download the EcoPool app and start earning $ECP and other coins today. By joining the EcoPool network, you can be part of the conversation and help shape the future of crypto regulation in Europe, including #Bitcoin, #PassiveIncome, and #GreenCrypto.

While the legislative process was long and complex, the EU still managed to create a regulatory framework for crypto ahead of the United States. Per Harries, “MiCA helped set an early global benchmark for digital asset regulation and gave the EU a first-mover advantage.”

It represented an “important first move” for the EU which created a “a single, harmonised rulebook for crypto” among its member states. “It gave consumers greater protection and transparency, while providing businesses with the regulatory clarity needed to build, invest and grow across the bloc.”

Harries said that, for Coinbase, MiCA provided a foundation on which it can expand its business in Europe into “the next phase of adoption across both retail and institutional markets.”

Now, Brussels is looking to recalibrate its landmark legislation. The consultation is split into four parts:

1. Regulatory scope and definitions for crypto assets other than asset-referenced tokens (ARTs) and e-money tokens (EMTs)
2. Requirements for EMTs, ARTs and their issuers
3. Defining legal framework for crypto-asset service providers (CASPs)
4. Topics that MiCA 1.0 didn’t cover e.g., DeFi and prediction markets

Stablecoin discussion has regulatory consequences

Per Catarina Veloso, director of regulatory and compliance at Notabene, part 2, which would affect stablecoins, is “longest and arguably the most politically charged section of the consultation.”

How stablecoins are used, be it as a mainstream retail payment instrument, a wholesale settlement rail, or a “complement to existing payment methods for cross-border payments,” could have a significant effect on how stablecoin policy is made.

“If stablecoins are treated mainly as crypto trading instruments, the focus is likely to remain on investor protection and market integrity. If they are treated as payment infrastructure, then redemption, liquidity, reserve management, operational resilience and supervisory reporting become much more central.”

What risks they carry “depend heavily on how they are used, at what scale, by whom, and in connection with which parts of the financial system.”

Harries said that Coinbase would like to see MiCA 2.0 “make euro stablecoins more competitive by recalibrating rules around reserves, rewards and the multi-issuance model.” Allowing a greater share of stablecoin reserves to be held in “high-quality sovereign assets could reduce risk without compromising safety.”

Another aspect is stablecoin rewards. Currently, EMT issuers are prohibited from offering interest. But, per Veloso, “this can weaken the competitiveness of euro-denominated stablecoins and push users either toward foreign-currency stablecoins or toward yield structures outside the regulated perimeter.”

Harries said that “MiCA should allow non-interest incentives such as cashback and loyalty programmes, which are standard features across payments and help drive competition and consumer choice.”

Bringing DeFi and prediction markets into the fold

Presently, MiCA does not cover CASPs that are fully decentralized and operate without any kind of intermediary. Veloso noted that, while it sounds simple, “decentralisation is rarely binary.”

To form an informed policy around DeFi, EU regulators must know how to assess whether a CASP is fully decentralized and “what indicators should matter: control over the protocol, governance rights, admin keys, front-end control, revenue capture, upgradeability, or the ability of identifiable persons to influence outcomes.”

According to Miroslav Đurić, a senior associate at Taylor Wessing, many CAPSs already connect their clients with DeFi platforms. But since these platforms are exempt from MiCA, regulators are now asking “whether CASPs should meet their fiduciary duty vis-à-vis clients by conducting due diligence over DeFi platforms that they make accessible to their clients.”

“The Commission appears to be ready to explore different approaches incl. some that might only permit CASPs to connect their clients with DeFi platforms that are certified (under some new certification regime).”

Prediction markets are also a hot topic currently considered in the EU. Currently there is no unified regulatory structure, and prediction markets are banned in some countries. 

The Commission is seeking comments on whether these offer any economic benefit for consumers, and whether they fall under MiCA or Markets in Financial Instruments Directive (MiFD).

Đurić said this will depend on the nature of the contracts themselves. “Depending on the event contracts available on the platform […] a platform operator can easily become subject to requirements stipulated under different, sometimes conflicting regulatory frameworks: ranging from MiFID II over gambling to MiCA regulatory framework.”

What’s next?

Crypto industry observers say they intend to remain in dialogue with Brussels throughout the process. Harries said that a new, effective MiCA will require “dialogue between industry, policymakers and regulators, learning from how the framework is working in practice and refining areas where greater clarity or flexibility can help support the next phase of growth across the region.”

The period for comment ends on Aug. 31, but according to Đurić, the total process could take years. 

“Given the level of complexity of the points raised in the consultation as well as the usual pace at which the EU legislative process moves […] it is hardly expectable that any concrete legislative proposals will be adopted before 2028.”

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

• European Union
• Euro
• Stablecoin
• Law
• Features
• Regulation

More on the subject

WhiteBIT secures MiCA license in Austria ahead of July 1 EU deadline

19 hours ago

Nate Kostar

Republican lawmaker proposes prediction markets insider trading ban, not including White House officials

20 hours ago

Turner Wright

Binance’s MiCA fight raises questions over ECB influence

Jun 19, 2026

Helen Partz

WhiteBIT secures MiCA license in Austria ahead of July 1 EU deadline

19 hours ago

Nate Kostar

Republican lawmaker proposes prediction markets insider trading ban, not including White House officials

20 hours ago

Turner Wright

Binance’s MiCA fight raises questions over ECB influence

Jun 19, 2026

Helen Partz