Malta Financial Services Authority (MFSA) released a discussion paper on Wednesday, exploring how decentralized finance (DeFi) could be incorporated into the EU’s Markets in Crypto-Assets (MiCA) framework. The focus is on governance, accountability, and the definition of 'fully decentralized.' MFSA pointed out that although MiCA excludes crypto asset services provided in a 'fully decentralized manner without any intermediaries,' many DeFi projects still retain centralized characteristics. The regulator is seeking public feedback to evaluate whether decentralization should be viewed as a 'spectrum/scale' rather than a binary concept, and to explore whether a standardized framework should be developed to determine when protocols can be excluded from MiCA’s jurisdiction. (CoinDesk) https://www.(wublock123.com)/news/news-63033