EU lawmakers push to assess DeFi, staking and NFT rules under MiCA

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EU assesses DeFi, staking, NFTs

Highlights

The European Parliament's economic affairs committee recommended the European Commission assess regulation of DeFi, staking, lending, and NFTs under MiCA, with a plenary vote set for July 7.
The report calls for promoting tokenization, supporting euro-denominated stablecoins, and discouraging member states from adding national rules that could fragment the EU crypto market.
MiCA's transitional period ends July 1, after which crypto asset service providers must obtain authorization to operate across the EU, amid ongoing public consultation on expanding MiCA’s scope.

Committee report broadens crypto policy agenda

As reported by Cointelegraph, the Parliament's economic affairs committee has urged the European Commission to assess whether crypto lending and borrowing, staking, non-fungible tokens and decentralized finance should be regulated. The recommendations are included in a report tabled on Friday for a plenary vote expected on July 7.

The report, drafted by Belgian Member of the European Parliament Johan Van Overtveldt, is an own-initiative resolution from the Committee on Economic and Monetary Affairs, or ECON. If adopted, it would become Parliament's official position on digital assets policy, but it would not amend MiCA or create new legal obligations.

The committee-approved text also calls for promoting tokenization across financial services, encouraging euro-denominated stablecoins and examining whether additional crypto activities should fall under the European Union's Markets in Crypto-Assets Regulation. It further urges consistent application of MiCA across the bloc and warns member states against adding national requirements that could fragment the EU market for crypto firms.

Stablecoins and MiCA review gain momentum

The recommendations point to a more supportive stance on regulated stablecoins within the EU policy debate. The report says euro-denominated stablecoins could complement tokenized commercial bank deposits and wholesale central bank digital currencies, while helping deliver faster and cheaper cross-border payments.

It adds that broader adoption could improve the competitiveness of EU financial markets and support the euro's international role. The position also aligns with ECON's wider approach to digital money after the committee backed legislation for a digital euro on Tuesday, arguing that public and private forms of digital money should coexist rather than compete.

The Commission is already reviewing MiCA. In May, it launched a public consultation on whether the framework should be expanded to cover DeFi, staking, lending, NFTs and tokenized financial assets, while also reopening debate over the regulation's ban on interest-bearing stablecoins.

MiCA's transitional period ends on July 1, after which crypto asset service providers generally must hold authorization under the regulation to keep operating across the EU.

In our earlier coverage of Circle’s USDC expansion in Japan, we looked at the company’s agreement with Nomura to enable instant FX settlements using stablecoin rails. We also noted that mixed earnings results and choppy technical signals were shaping near-term sentiment around Circle and its stablecoin-driven payment strategy.

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