EU Lawmakers Push for Broader Crypto Regulation Amid Stablecoin Shift

The European Parliament's Committee on Economic and Monetary Affairs (ECON) has called for a review of rules governing DeFi, staking, and NFTs. In an own-initiative resolution scheduled for a plenary vote on July 7, lawmakers asked the Commission to assess whether these areas should fall under EU-wide rules.

The resolution, drafted by Belgian MEP Johan Van Overtveldt, encourages consistent application of the Markets in Crypto-Assets Regulation (MiCA) across EU member states. It warns against national rule-making that could fragment the market and force crypto businesses to navigate a patchwork of rules.

Lawmakers also support the development of euro-denominated stablecoins under MiCA, which they believe can complement existing financial rails and enable faster and cheaper cross-border payments.