European Parliament wants to expand crypto regulation after MiCA launch
European Union lawmakers have adopted a position paper on digital assets, outlining how the EU should develop crypto market regulation after the rollout of the Markets in Crypto-Assets (MiCA) framework. The European Commission is being asked to assess whether areas such as decentralized finance (DeFi), crypto lending, borrowing in digital assets, staking and non-fungible tokens (NFTs) should be brought more clearly into the EU’s regulatory perimeter.
According to the European Parliament’s website, lawmakers also called for consistent application of MiCA across all member states and warned that separate national rules could fragment the EU’s single digital asset market.
The vote made the report “Digital assets: challenges for the competitiveness and integrity of the European Union’s financial system” the European Parliament’s official policy position on digital assets. However, the document does not directly amend MiCA or create new legal obligations for crypto companies.
MiCA’s transitional period ended on July 1. From that date, crypto-asset service providers covered by the framework must obtain EU-wide or national authorization to continue operating across the European Union.
European Parliament looks beyond MiCA
The report reflects growing pressure in Brussels over segments of the digital asset market that remain outside MiCA’s current regulatory scope.
MiCA has already established licensing and conduct rules for crypto-asset service providers, as well as for issuers of certain tokens. However, European lawmakers continue to discuss how to regulate DeFi, staking, crypto lending, NFTs and tokenized financial assets.
The European Commission is already studying the possibility of expanding MiCA. In May, it launched a public consultation and asked market participants for feedback on potential changes to the framework. The topics included bringing additional types of crypto activity into the regulatory scope and a possible review of MiCA’s restrictions on interest-bearing stablecoins.
The report approved by the European Parliament also takes a more supportive stance toward tokenization and euro-denominated stablecoins. Lawmakers believe digital assets could improve the competitiveness of EU financial markets if regulation is applied consistently across the bloc.
Companies leave the EU over new rules
One reason for reconsidering the approach was the departure of some crypto companies from the European market after the new rules came into force. MiCA was supposed to create unified and clear requirements for the entire EU, but in practice many players decided that operating under the new conditions would become too complicated or expensive. Some companies failed to obtain the required authorizations, while others chose to wind down operations in Europe or shift their focus to other jurisdictions.
The most notable example was Tether. The company has not obtained authorization for USDT under MiCA, prompting European platforms to begin delisting the largest dollar-denominated stablecoin. For lawmakers, this became a signal that overly strict or ambiguous rules may not only strengthen investor protection, but also push major crypto projects outside the EU, reducing the competitiveness of the European digital asset market.
As a reminder, MiCA came into force a week ago.
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