Crypto assets should be treated as securities by default, and the autonomous organizations that govern decentralized finance (DeFi) should be granted legal status, according to a study commissioned by lawmakers at the European Parliament that was published Tuesday.
The report comes as the European Union finalizes its Markets in Crypto Assets (MiCA) regulation, and considers whether a sequel will be needed to cover extra areas like DeFi, staking and non-fungible tokens (NFTs).
All crypto assets should be deemed a transferable security – implying they would fall under the EU’s tough governance and authorization rules that apply to traditional stocks and bonds – unless and until a national regulator says otherwise, the report says.
‘Enforcement 40’ for 2020
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