The EU regulator’s new rule under the MiCA framework will permit traditional banks to enter the Decentralized Finance (DeFi) space.
As blockchain technology expands its roots in different business sectors, the EU DeFi Regulators open doors for traditional banks to enter the DeFi space. Marina Markezic, the executive director of the European Crypto Initiative, predicted that most traditional banks are already planning to enter crypto land. However, the new rule may set barriers to crypto-native projects.
What EU DeFi Regulators Are Planning?
To expand the roots of cryptocurrencies worldwide, the EU regulators plan to welcome the big traditional banks into the DeFi space. Under the Markets in Crypto-Assets (MiCA) framework, big banks and financial institutions considering issuing altcoins can enter the DeFi landscape.
The rules encourage licensed financial institutions to operate in the crypto space and improve coordination with DeFis. However, the new
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