MiCA, in its current format, has already scared away crypto players of all sizes. For many of them, this regulation represents a crossing of the administrative and financial desert. However, European politicians consider this framework insufficient and want to extend it. DeFi, staking and NFTs are now in their sights. An ambition which raises its share of paradoxes and questions about Brussels’ real strategy.
In brief
- The European Parliament calls for the extension of MiCA to DeFi, staking and NFTs.
- Compliant euro stablecoins saw their capitalization jump 128% in one year.
- Rapporteur Van Overtveldt, a former hawk, now defends a strategic vision of cryptos.
- Coinbase, OKX and other well-prepared players are taking advantage of their competitors’ difficulties.
Post-MiCA: MEPs want to cast a wider net
Barely having completed the transitional period of MiCA, the European Parliament is already looking further ahead. On July 7, 2026, MEPs adopted a report which asks the Commission to assess the integration of DeFi, staking, crypto lending and NFTs within the regulatory scope. This official position does not yet change the law, but it clearly sets the direction to follow.
The European Commission has also anticipated this movement and launched a public consultation from May 2026 on these same subjects. It even reopened the debate on the ban on profitable stablecoins.
Meanwhile, MiCA-compliant euro stablecoins are showing spectacular growth of 128% year-on-year. Their capitalization increased from $295.6 million to $673.9 million, an increase that reflects investors’ appetite for regulatory clarity.
This desire for expansion, however, contrasts with the difficulties encountered by certain actors. If Brussels wants to widen the net, not all exchanges manage to comply.
The Van Overtveldt paradox: from hawk to crypto gardener
Johan Van Overtveldt, Belgian MP and rapporteur of the text, single-handedly embodies the European antithesis. In 2023, this man compared cryptocurrencies to drugs and called for severe restrictions after the collapse of Silicon Valley Bank. Today, he is leading a report that not only calls for regulating DeFi and NFTs, but also encourages the development of euro stablecoins.
This spectacular turnaround calls into question the sincerity of Europe’s strategic shift. The report now argues that euro stablecoins could complement tokenized bank deposits and wholesale CBDCs. They would also strengthen the competitiveness of European financial markets, a vision that Van Overtveldt would never have dared to defend three years ago.
However, this new position is not unanimous. Parliament warns of divergent national rules which could fragment the single market. Member States must apply MiCA consistently, but between national interests and European ambition, the game promises to be complex.
DeFi, staking, NFTs: exchanges are grabbing the ball
The public consultation launched by the Commission in May 2026 concerns very concrete subjects: DeFi, staking, lending, NFT and tokenized financial assets. Companies are already adapting to this new regulatory landscape by anticipating future developments.
BNB Chain has released guides to help European users transfer their assets to self-held wallets.
Meanwhile, MiCA-compliant euro stablecoins are swarming the market. EURC, EURCV and EURI lead the way, bringing the total capitalization to nearly $674 million. This progression proves that regulatory clarity attracts capital, contrary to the predictions of the most pessimistic.
The current situation especially benefits exchanges that anticipated the movement and prepared for compliance. Coinbase, MiCA-licensed since 2025 via Luxembourg, and OKX, which obtained its pre-authorization, are rubbing their hands. While some struggle to comply, others are eating into market share and transforming regulation into a competitive weapon.
Key figures to remember:
- Growth of MiCA euro stablecoins: +128% in one year;
- Capitalization of compliant stablecoins: $673.9 million;
- Commission public consultation: launched in May 2026;
- End of the MiCA transitional period: July 1, 2026;
European regulation, by imposing restrictive rules, drives out certain players but attracts the strongest. Binance is desperately looking for an opening to enter the territory, while Coinbase and OKX, which offer up to 400 euros in BTC to new users, are relishing their advantage.
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