ECON Committee Seeks Broader Regulatory Assessment

The Committee on Economic and Monetary Affairs (ECON) of the European Parliament has tabled an own-initiative resolution asking the European Commission to examine whether crypto lending and borrowing, staking, non-fungible tokens (NFTs),and decentralized finance (DeFi) require further regulatory measures beyond the current Markets in Crypto-Assets Regulation (MiCA).

Drafted by Belgian Member of the European Parliament Johan Van Overtveldt, the document was approved by the committee and is scheduled for a plenary vote in the European Parliament around July 7. If passed, it would represent the Parliament’s position on digital asset policy but would not change MiCA provisions or create new legal requirements.

Focus on Stablecoins and Tokenization

The resolution takes a constructive approach toward euro-denominated stablecoins issued under MiCA. It positions them as potential contributors to the EU payments sector, capable of working alongside tokenized commercial bank deposits and wholesale central bank digital currency arrangements. Lawmakers see value in faster, lower-cost cross-border transactions and greater competitiveness for EU financial markets.

This stance aligns with broader discussions on digital money coexistence. The committee has also supported developments around a digital euro, indicating openness to both public and private solutions operating in parallel.

Context of MiCA Implementation

MiCA’s transitional period ends on July 1. After this date, crypto-asset service providers generally need authorization to operate across the EU. The ECON resolution adds to ongoing Commission work, including a May public consultation on potential MiCA expansions to cover DeFi, staking, lending, NFTs, and tokenized assets.

Earlier drafts of the report concentrated more on stablecoin classifications and legal certainty for multi-issued tokens. Negotiations within ECON broadened the scope to address emerging activity types.

Implications for Market Participants

The resolution serves as a policy signal rather than immediate law. It directs attention toward how the Commission might define regulatory boundaries for activities that involve custody, asset pooling, market-making, and governance in decentralized settings. Consistent rules across the EU are presented as essential to avoid market fragmentation.

Van Overtveldt’s role is notable given his earlier positions during the 2023 banking events involving institutions like Silicon Valley Bank, where stablecoin reserve arrangements drew scrutiny. The current report marks a shift toward evaluating practical infrastructure uses within regulated frameworks.