EBA Asks EU to Study MiCA Rules for Crypto Lending and DeFi Access

The European Banking Authority (EBA) has asked the European Commission to assess MiCA changes for crypto-loan intermediaries and firms that connect customers to decentralized lending, putting possible new safeguards under review. The request seeks a study of changes to the Markets in Crypto-Assets Regulation (MiCA), including adding crypto-asset borrowing and lending intermediation to the list of regulated crypto-asset service provider (CASP) activities. It also asks for requirements on CASPs that give clients access to decentralized finance (DeFi) lending. The EBA wants a cost-benefit analysis before legislative changes are considered, so the recommendation does not itself alter EU law or automatically extend MiCA to every DeFi protocol. Potential measures for intermediaries include suitability assessments, limits on leverage and fuller disclosures.

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