EU lawmakers urge assessing DeFi, staking, NFT regulation

The nonbinding report outlines Parliament's vision for future EU crypto regulation and warns against national MiCA rules.

The European Parliament's economic affairs committee has urged the European Commission to assess whether crypto lending and borrowing, staking, non-fungible tokens (NFTs) and decentralized finance (DeFi) should be regulated.

The recommendations were part of a report tabled Friday for plenary vote. It also called for promoting tokenization across financial services, encouraging euro-denominated stablecoins and assessing whether additional crypto activities should be regulated under the European Union’s Markets in Crypto-Assets Regulation (MiCA).

Drafted by Belgian Member of the European Parliament Johan Van Overtveldt, the report is an own-initiative resolution by the Committee on Economic and Monetary Affairs (ECON) that outlines recommendations for the Commission on digital asset regulation. 

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