DeFi Regulation in Europe MiCA and Beyond 2025

{ "body": "MiCA exempts crypto services provided in a fully decentralized manner without any intermediary. Where DeFi services involve identifiable intermediaries, MiCA authorization may be required.", "heading": "MiCA DeFi Exemption" }

{ "body": "Full decentralization requires no central party controlling the protocol, no identifiable issuer, and governance fully on-chain. Most DeFi projects at launch do not meet this standard.", "heading": "What Counts as Fully Decentralized" }

{ "body": "The European Commission committed to reviewing DeFi regulation. Industry expects specific guidelines addressing protocol governance, liquidity provision, and front-end interface liability.", "heading": "Future DeFi Regulation" }