DeFi Regulation: France Proposes Liability for Crypto Platforms

Key Insights France’s DeFi regulation proposal targets crypto platforms that connect customers to decentralized protocols. French authorities proposed due diligence and certification safeguards for DeFi services. France also backed greater European oversight of major crypto firms and tighter stablecoin rules. France proposed stricter DeFi regulation on Oct. 21, seeking clearer liability for regulated platforms connecting customers to decentralized protocols. The French Treasury, financial markets regulator, central bank, and prudential supervisor jointly published proposals for the European Union. The proposals formed part of a review of the Markets in Crypto-Assets Regulation (MiCA). French authorities wanted intermediary responsibilities to reflect risks when platforms facilitate decentralized finance access. DeFi Regulation Would Put More Responsibility on Platforms France’s Financial Markets Authority and three other agencies said DeFi regulation should include certification and proportionate checks.

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