vor 42 Min.
MiCA’s 2025‑2026 rollout raises questions over DeFi’s future and market centralization in the EU
From late 2025 through July 2026, the EU’s MiCA framework will require exchanges, custodians, stablecoin issuers and other crypto intermediaries to secure authorization to keep operating. The rules exclude fully decentralized protocols and self-custody wallets from CASP status, but critics argue that heavy compliance costs, front-end control and additional traceability via the Transfer of Funds Regulation could sideline smaller DeFi startups and push services to geo-block EU users.