The European Union Commission has initiated a proposal for the study of automated depository financial institution supervision.

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Last Updated on October 11, 2022 by Bitfinsider

The Commission of the European Union has issued a request to investigate “embedded supervision” of decentralized finance (DeFi) protocols on the Ethereum blockchain. This action is a signal that the EU is planning to increase its level of regulation in the near future.
A built-in technology to supervise activities within the decentralized finance space is going to be “developed, deployed, and tested” as part of the pilot project. In order to carry out their real-time monitoring of DeFi transactions, researchers will collect automated supervisory data directly from the Ethereum blockchain.
It is anticipated that the study will take 15 months to complete and will cost a total of 250,000 euros.

The Markets in Crypto Assets (MiCA) bill was officially enacted into law on the 10th of October by members of the European Parliament. The ground-breaking legislation will establish a comprehensive regulatory framework for digital assets in the region. This framework will include the provision of marketing guidelines for cryptocurrency companies as well as protections for investors.

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