ESMA Proposes New MiCA Regulations for DeFi Gateways and Crypto Lending

The European Securities and Markets Authority (ESMA) submitted a contribution to the European Commission regarding the revision of the MiCA regulation on September 30. The proposal targets intermediaries that provide technical interfaces for DeFi protocols, suggesting they should be subject to licensing requirements. The regulator aims to increase transparency regarding DeFi protocol risks and address non-compliant stablecoins, while clarifying that it does not intend to classify staking as disguised lending.