New regulations could create unintentional risks to the financial stability of defi cryptocurrencies, warns European trade organization

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Die Association for Financial Markets in Europe (AFME) hat in einem kürzlich veröffentlichten Weißbuch davor gewarnt, dass neue Kryptowährungsvorschriften unbeabsichtigte Risiken für die Finanzstabilität mit sich bringen könnten. Die AFME argumentierte, dass die dezentrale Finanzierung (DeFi) und damit verbundene Aktivitäten angemessen in den regulatorischen Rahmen einbezogen werden sollten, um Risiken zu bewältigen und gleichzeitig finanzielle und technologische Innovationen zu fördern. Die Europäische Union und das Vereinigte Königreich haben bereits Maßnahmen ergriffen, um ihre Krypto-Regime voranzutreiben. Im vergangenen Monat wurden die wegweisenden EU-Regeln für Märkte für Krypto-Assets (MiCA) verabschiedet, die jedoch erst im nächsten Jahr in Kraft treten werden. Diese Vorschriften …
The Association for Financial Markets in Europe (AfME) has warned in a recently published white book that new cryptocurrency regulations could have unintentional risks to financial stability. Afme argued that decentralized financing (Defi) and the associated activities should be adequately included in the regulatory framework in order to cope with risks and at the same time promote financial and technological innovations. The European Union and the United Kingdom have already taken measures to advance their crypto regime. Last month, the groundbreaking EU rules for markets for crypto-assets (Mica) were adopted, which will only come into force next year. These regulations ... (Symbolbild/KNAT)

The Association for Financial Markets in Europe (AfME) has warned in a recently published white book that new cryptocurrency regulations could have unintentional risks to financial stability. Afme argued that decentralized financing (Defi) and the associated activities should be adequately included in the regulatory framework in order to cope with risks and at the same time promote financial and technological innovations.

The European Union and the United Kingdom have already taken measures to advance their crypto regime. Last month, the groundbreaking EU rules for markets for crypto-assets (Mica) were adopted, which will only come into force next year. These regulations cover Defi and other areas such as NFTs. The lack of measures for Defi has already led to political decision -makers request revision of the law.

The Afme admits that the overlap between Defi and the traditional finance is currently still minimal. Nevertheless, they show how Defi could have potential effects on the economy. For example, house purchase chains could be coded in intelligent contracts, which would include intangible assets such as intellectual property in blockchain and only created on-chain assets such as gaming collector's pieces.

In order to keep up with the changing landscape, Afme recommends further research and global cooperation between the regulatory authorities. They emphasize that the regulatory authorities should develop opportunities to classify defi activities, including the allocation of legal status to decentralized autonomous organizations (DAOS).

Another important aspect that the Afme emphasizes is the difficulty of enforcing regulations for defi products, since due to their decentralized nature, they are often not subject to a defined case law. The regulatory authorities must therefore either keep an eye on the user or the company that provides the user a web interface to apply the regulations.

The Afme concludes with the appeal to everyone who is interested in Krypto, keeping up to date with the latest developments and receiving daily updates in their inbox.