France Seeks DeFi Safeguards in Proposed MiCA Overhaul

French financial authorities want clearer responsibilities for DeFi intermediaries, protocol checks and stronger stablecoin safeguards in a proposed revision of MiCA. France’s financial authorities have proposed clearer responsibilities for intermediaries connecting customers to decentralised finance, placing protocol checks and user safeguards at the centre of their recommendations for revising Europe’s crypto rules. The French Treasury, AMF, Banque de France and ACPR published their joint position on Wednesday in response to the European Commission’s review of the Markets in Crypto-Assets Regulation, known as MiCA. Their announcement calls for assigned intermediary responsibilities, due-diligence obligations and protocol certification.