New rules under the MiCA framework may encourage large banks to enter the DeFi field

Marina Markezic, the Executive Director of the European Crypto Initiative, predicts that the nomination rules for decentralized finance protocols in Europe may pose significant obstacles to native crypto projects while encouraging licensed traditional financial institutions to join. Markezic also discussed the upcoming DeFi report by the European Commission, which is set to be released on December 30, 2024, under the MiCA framework and will study the feasibility of regulating the DeFi ecosystem. Markezic stated that we believe the new rules under the MiCA framework may encourage large banks to enter the DeFi field. We know that some banks are already considering issuing stablecoins. And, she added, no matter what we've seen developed over the years, it's all from the institutional perspective, and obtaining licenses and compliance will certainly be more difficult for all native crypto projects.