EU banking watchdog calls for crypto lending rules under MiCA
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On Sept. 24, the European Banking Authority set out possible additions to the EU’s crypto rulebook, including crypto lending, leverage limits, and certification for access to DeFi lending protocols. One separate proposal would bar EU crypto service providers from arranging or facilitating borrowing and lending involving stablecoins that do not have MiCA authorization. The ideas were part of the European Commission’s review of MiCA, which does not cover crypto lending today.
Key claims & sources
What it means
Crypto users and service providers in the EU are the clearest immediate audience for these proposals. If they are picked up in the MiCA review, access to lending services and DeFi lending routes could be handled under a more specific EU rule set than before, while stablecoin-related lending channels could face a direct restriction.
In practice, the baseline would change from a framework that does not cover crypto lending to one that could. That would mean leverage caps, DeFi access certification, and possible limits on arranging lending tied to unauthorised stablecoins, while other parts of MiCA would remain unchanged unless the Commission adds them.
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Has this happened before?
| When | What happened | Figure |
|---|---|---|
| 45 days ago | Tether Rejected This MiCA Rule. Now the ECB Wants It Gone event | 2 actors in common · 2 news media |
| 45 days ago | ECB, EU cenbanks seek changes in MiCA’s minimum bank deposit for stablecoins event | 2 actors in common · 2 news media |