Regulation· ★★★★· neutral· October 21, 20:13

EBA proposes bringing crypto lending, including DeFi access, under MiCA

—EBA wants intermediated crypto lending added to the list of MiCA services requiring authorization
—Regulator proposes suitability tests, leverage caps and limits on lending involving stablecoins
—EBA cites crypto lending in at least 16 EU member states and blurring of CeFi-DeFi lines
—Recommendation is non-binding: it needs a Commission proposal and Parliament-Council talks

Why it matters: If adopted, institutional crypto lending stays under MiCA in the EU while retail yield products move offshore.