EU Crypto Regulation: MiCA 2.0 Consultation Launched

The European Commission has launched a consultation on MiCA 2.0, aiming to gather views from industry stakeholders on various pressing matters in the crypto industry. The consultation will help the Commission assess whether the current framework is adequate or if changes are needed.

Among the key areas addressed by the consultation are stablecoins, DeFi, and staking. For stablecoins, the Commission questions whether multi-issuance schemes should be allowed under MiCA Regulation. Currently, issuers of asset-referenced tokens (ARTs) must ensure ring-fencing of reserved assets for the EU part of their token issuance.

For DeFi, the Commission asks about the degree of control exercised over underlying protocols or smart contracts and whether CASPs should conduct due diligence on accessible DeFi platforms. Additionally, staking is examined to determine if its regulatory treatment remains adequate.