The European Commission was called inadequate norms Tradfi in relation to Defi

The European Commission recognized the deficiency of standard financial policy for regulating Defi services. This is stated in the report.

The document will become the basis and foundation for the development of future proposals for supervision of the segment being formed.

Work on the report was a reflection of the desire to understand the nature of decentralized finances and inform the authorities on how to respond to any potential consequences for state policy.

The authors of the document cited the principles of the formation of proposals on amending the legislation:

• develop certain provisions of Solana network regulation of legal entities on the basis of microprudent requirements;
• distribute the mechanism of voluntary compliance with compliance both to protocols and legal entities;
• form a public supervisory board taking into account the opinion of interested parties and network data. Such an organ will conduct public research regarding specific Defi protocols and practices.

The report is recommended to develop an approach to regulate oracles. However, the authors admitted that the optimal design “remains largely insufficiently developed”.

Recall that the European Commission announced a tender for studying the methods of automated data collection on Defi Aase in the Ethereum network in real time for regulators.

On October 10, members of the Committee on Economic and Currency issues of the European Parliament supported the bill on supervision over the Mica cryptocurrency market . The document does not establish clear frames to regulate Defi Protokols.

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