Written by Zoltan Vardaistaff writerReviewed by Yohan Yunstaff writer
Written by Zoltan Vardaistaff writer
Reviewed by Yohan Yunstaff writer
MiCA architect says EU should prioritize tokenization over DeFi rules
Latest NewsPublishedJun 9, 2026
One of MiCA’s architects stated he sees no need to regulate DeFi as the European Commission gathers feedback on the framework’s future.
The European Union should focus on a broader digital asset framework covering real-world assets and tokenization instead of regulating decentralized finance through a second version of the Markets in Crypto-Assets Regulation (MiCA), an adviser at the European Commission stated.
The European Commission introduced a public consultation on MiCA in May, seeking feedback through Aug. 31.
“I do not believe that [MiCA] is outdated now. That’s my personal opinion, but it does not matter. That’s why we have this consultation,” Peter Kerstens told Cointelegraph during a fireside chat at WAIB Summit Monaco 2026.
Kerstens, one of MiCA’s architects, stated that the feedback received during the European Commission’s current review period will help shape the bloc’s next regulatory steps.
MiCA is approaching the end of its transitional period on July 1, after which crypto asset service providers will be required to hold a MiCA license or stop servicing EU clients.
Related: Crypto firms face July 1 EU cutoff as MiCA grace period ends
EU doesn’t need to regulate DeFi, says MiCA architect
Decentralized finance (DeFi) protocols were included among the emerging risk areas examined in the consultation, even though they are largely outside MiCA’s current scope.
An excerpt from the public consultation on the MiCA review. Source: European Commission
nevertheless, Kerstens stated regulating DeFi would be difficult because laws can be applied to people and organizations, but not directly to computer networks. He stated lawmakers would need a new legal doctrine to regulate non-entities.
Kerstens added that he doesn’t see a need to regulate DeFi, which he described as a “movement” that has “no representatives.”
“I don’t see what the problem is. And if there is no problem, why should it be regulated?”
Earlier in March, a working paper from the European Central Bank questioned whether decentralized autonomous organizations (DAOs) are decentralized enough to remain outside MiCA’s scope. Looking at Aave, MakerDAO, Ampleforth and Uniswap, the paper found that the top 100 governance token holders controlled over 80% of the supply in each protocol, based on holdings snapshots from November 2022 and May 2023.
The authors stated these findings question whether DAOs are inherently decentralized and whether they should remain outside of the MiCA regulation as “fully decentralized” services.
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- Bitcoin Regulation
- Law
- MiCA
- European Union
- RWA Tokenization
- DeFi
- Regulation
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