News about MiCA

French authorities, including the Treasury, AMF, central bank and ACPR, proposed revising MiCA so that crypto-asset service providers (CASPs) would be liable for certain client incidents where they actively facilitated access to DeFi. Platforms would need to vet DeFi protocols before offering access, monitor them for vulnerabilities and suspicious activity, and back certification of protocols and smart contracts. For self-custodial wallets, France opposes blanket certification requirements for developers and favors voluntary certification for advanced wallets integrating DeFi. The proposals would also transfer supervision of significant CASPs to ESMA and lower the threshold of 15 million average daily active EU users. A report to EU lawmakers, due by June 30, 2027, will draw on the consultation responses.