Cardano Foundation urges EU against expanding MiCA rules to DeFi and staking

The Cardano Foundation has called on the EU to reconsider its plans to expand MiCA rules to DeFi and staking. The foundation believes that regulation should be based on financial risks rather than technology, as this could create uncertainty for crypto businesses. The EU's MiCA rules are intended to provide a regulatory framework for the crypto industry, but the foundation argues that they could have unintended consequences. The crypto industry is still in its early stages, and overly broad regulation could stifle innovation. The foundation's comments come as the EU continues to develop its regulatory framework for crypto. The outcome of this process will have significant implications for the industry, and the Cardano Foundation's comments are likely to be closely watched.