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The European Commission is seeking public comment on potential revisions to the Markets in Crypto-Assets regulation, its existing framework covering the crypto and blockchain industries.
The process, already being referred to as MiCA 2.0, has surfaced two areas where the crypto industry is pushing hardest for changes: stablecoins and decentralised finance.
A Framework Built for Yesterday's Market MiCA was designed to bring a unified regulatory perimeter to crypto across European Union member states, but the pace of product development in the sector has exposed gaps almost from the moment the rules took shape.
Stablecoins — tokens whose value is pegged to a reference asset — and DeFi protocols, which execute financial transactions through automated smart contracts without a central intermediary, both sit in territory the original text either sidestepped or addressed incompletely.
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