Peter Kerstens, technology innovation and cybersecurity advisor to the European Commission, has said crypto industry participants should help European authorities create a regulatory environment for the DeFi sector in order to get "great solutions" as a result.
According to him:
"We need to think more imaginative about how DeFi can be captured in legal concepts, if it is necessary."
Kerstens has called on the community to engage in a dialogue with the authorities and make suggestions. According to him, the EC has "a lot of bad ideas" regarding the regulation of the sector.
Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world
Members of the European Parliament's Committee on Economic and Monetary Affairs supported the draft law on supervision of the cryptocurrency market MiCA on October 10. However, the document does not establish a clear framework for regulating DeFi protocols.