Cardano Foundation and French regulators clash over MiCA approach to DeFi regulation
Cardano Foundation urges EU to improve existing MiCA rules rather than create new DeFi regulations, while French authorities propose making crypto platforms liable for DeFi security failures.
Why it matters
The opposing positions reveal a fundamental regulatory divide: whether DeFi access should be addressed by refining existing rules or by imposing new obligations on regulated intermediaries. The outcome will shape compliance burdens for crypto platforms operating in the EU and determine whether DeFi protocols face indirect regulation through their gateway providers.
Where the sources disagree
Regulatory approach for DeFi under MiCA
Improve existing MiCA, avoid new DeFi regulations
Crypto.News
Impose new liability and security check obligations on CASPs for DeFi access
Cointelegraph, Crypto.News
Cardano Foundation argues for improving existing MiCA rules without new DeFi frameworks, while French authorities propose new liability obligations for platforms facilitating DeFi access
Key facts
Cardano Foundation submitted a consultation response on September 30 urging EU policymakers to improve existing MiCA rather than create new DeFi regulations
Reported by Crypto.News
Cardano Foundation wants regulators to distinguish between direct blockchain participation and financial services operated by intermediaries controlling customer assets
Reported by Crypto.News
French authorities published a joint proposal to revise MiCA by imposing liability on CASPs for certain DeFi incidents
Reported by Cointelegraph
French proposal would require crypto platforms to conduct security checks before offering DeFi access and continue monitoring for vulnerabilities
Reported by Cointelegraph
French proposal leaves self-custody wallet developers outside mandatory certification while allowing voluntary certification for advanced DeFi services
Reported by Crypto.News
France called for a review of MiCA's asset referenced token category after no tokens received authorization under the framework
Reported by Crypto.News
European Commission will deliver a report to EU lawmakers by June 30, 2027 on whether MiCA needs updating
Reported by Cointelegraph
What happened
The Cardano Foundation submitted a consultation response on September 30 arguing that EU policymakers should improve the existing Markets in Crypto-Assets Regulation instead of introducing new rules for decentralized finance and staking activities. The Foundation wants regulators to distinguish between direct blockchain participation and financial services operated by intermediaries that control customer assets. In contrast, French authorities — including the Treasury, Financial Markets Authority (AMF), Banque de France, and Prudential Supervision and Resolution Authority (ACPR) — published a joint proposal to revise MiCA by imposing liability on crypto-asset service providers (CASPs) for certain DeFi incidents if they fail to vet protocols or ignore known security risks. The French proposal would require platforms to conduct security checks before offering DeFi access and continue monitoring for vulnerabilities, while leaving self-custody wallet developers outside mandatory certification. The European Commission is reviewing whether MiCA needs updating and will deliver a report to EU lawmakers by June 30, 2027.
How the story developed
- Official statement
Cardano Foundation submits MiCA consultation response
Foundation argues for improving existing MiCA rather than creating new DeFi regulations
- Official statement
French authorities publish joint MiCA revision proposal
Treasury, AMF, Banque de France, and ACPR propose CASP liability for DeFi incidents
- First report
First report by Crypto.News
Can EU improve MiCA without new rules? Cardano Foundation makes its case
- Independent corroboration
Independently corroborated by Cointelegraph
France proposes liability for crypto exchanges offering DeFi access
- Update
European Commission consultation responses inform future MiCA report
Commission reviewing whether MiCA needs updating; report to EU lawmakers due by June 30, 2027
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 21 Oct 2026, 08:04 UTC: Crypto.News — 1 independent source, 1 reports
- 21 Oct 2026, 10:46 UTC: Cointelegraph — 2 independent sources, 2 reports
- 21 Oct 2026, 12:58 UTC: Unchained — 3 independent sources, 4 reports
- 21 Oct 2026, 19:54 UTC: Bitcoin Insider — 4 independent sources, 6 reports
- 22 Oct 2026, 08:45 UTC: CoinGape — 5 independent sources, 7 reports
- 22 Oct 2026, 13:15 UTC: Bitcoinist — 6 independent sources, 10 reports
Affected entities
Also mentioned: United States, Base, Financial Conduct Authority, United Kingdom, Bitcoin, Ethereum, Commodity Futures Trading Commission
Original sources
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