AI · Cointelegraph
Curve Finance founder Michael Egorov argues that the rules also need to account for the differences between decentralized lending
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Egorov says regulation should be approached “carefully,” and that a dedicated framework could improve safety and open DeFi lending to new users, while avoiding rules that some protocols cannot comply with because of how they’re built.
Key facts
- On May 20, 2026, the European Commission asked stakeholders to weigh in on areas left outside the original Markets in Crypto Assets (MiCA) framework
- The Commission’s consultation closes Sept. 30, and what follows could determine whether lending vaults remain outside MiCA or become subject to a new regulatory framework
- Yuriy Brisov, an EU digital assets lawyer and partner at Digital & Analogue Partners, tells Magazine the law pertaining to vaults at present is unclear
- Curve Finance founder Michael Egorov argues that the rules also need to account for the differences between decentralized lending and conventional finance
Summary
Brussels is reviewing whether crypto lending should fall under MiCA, but DeFi lending vaults are making it harder to determine who, exactly, should be regulated. MiCA left crypto lending outside its original rulebook, but now Brussels is considering whether to bring it in. On May 20, 2026, the European Commission asked stakeholders to weigh in on areas left outside the original Markets in Crypto Assets (MiCA) framework. One area of contention involves lending vaults, which can channel billions of dollars into onchain credit markets without looking like conventional lending. Yuriy Brisov, an EU digital assets lawyer and partner at Digital & Analogue Partners, tells Magazine the law pertaining to vaults at present is unclear:.