The European Parliament has asked the European Commission to examine whether crypto activities outside MiCA need more explicit regulation. After the July 1 transition deadline, crypto-asset service providers that fall under MiCA must be authorized to operate across the EU. The new policy paper shifts attention to sectors still sitting outside the framework, naming DeFi, crypto lending and borrowing, staking services, and NFTs as priority areas.
Attention moves to sectors MiCA does not fully cover
Lawmakers said these segments should be formally assessed for possible inclusion in future EU rules. The paper argues that the sectors are growing quickly while legal boundaries remain less defined than in other parts of the market. In that reading, clearer rules would do two things at once: strengthen user protection and give companies a more predictable operating environment. The language is specific, pointing to decentralized finance, crypto loans, staking, and NFTs as activities that warrant closer review.
MiCA was designed as the EU’s broad framework for crypto-asset markets, but it did not capture every business model in one sweep. With the transition period now over, the debate is no longer limited to implementation. It is also about where the remaining regulatory gaps are.
Parliament warns against uneven enforcement across the bloc
The document also puts heavy emphasis on how existing rules are applied by member states. Lawmakers said diverging national approaches could open loopholes and weaken the EU’s single-market structure for digital assets. If companies face meaningfully different standards from one country to another, the harmonizing effect of MiCA would be reduced.
For that reason, the paper recommends closer coordination among national regulators. The goal is simple: crypto firms operating in different EU jurisdictions should encounter broadly similar requirements. That points to a unified market model under MiCA, not a fragmented one.
Tokenization and euro-backed stablecoins receive support
The policy paper is not solely focused on tougher scrutiny. It also takes a constructive view of blockchain-based innovation. Lawmakers said tokenization can improve accessibility and efficiency for assets, which in turn could strengthen European financial markets. The document also highlights the potential of euro-pegged stablecoins to support the region’s digital economy.
Parliament called on the European Commission to review MiCA on a regular basis so financial stability and technological development can be balanced. The Commission is already moving in that direction. According to the source material, it launched a public consultation in May on possible regulation for additional crypto activities and on revisiting rules for interest-bearing stablecoins.