EU Commissioner: Calls on the crypto industry to help provide methods for regulating DeFi

ChainCatcher news, according to The Block, EU Commissioner Peter Kerstens has called for the crypto industry to help propose solutions for regulating DeFi in the coming years. Kerstens stated that DeFi represents a shift in accounting from the centralized finance paradigm, and a paradigm shift is also needed in regulation.

It is reported that the European Commission has released several reports this month that include investigations into regulating DeFi. ChainCatcher previously reported that on October 11, after two years of debate and drafting, the European Parliament voted to pass the Markets in Crypto-Assets (MiCA) bill, and a vote on the final approval of the legislation will take place later in October. In addition to MiCA, Members of the European Parliament are also voting on the anti-money laundering bill, the Transfer of Funds Regulation. (The Block)