[Aave Founder Stani Criticizes European Regulators for Restricting DeFi Access: May Harm Open Financial Networks] BlockBeats News, October 2 — Aave founder Stani Kulechov expressed disappointment in a post regarding the European Central Bank (ECB) and European Banking Authority (EBA)'s responses to the MiCA consultation. He pointed out that these institutions not only advocate for banning stablecoin yield payments but also propose restricting crypto asset service providers (CASPs) from offering users access to DeFi channels, including yield protocols involving stablecoins not authorized under MiCA, without specifying a clear implementation framework. Stani also mentioned that the proposals suggest limiting the user base that can access DeFi through so-called "suitability tests" and consider implementing certification systems for DeFi lending protocols. He argued that if regulators decide which protocols are suitable for European users, it could lead to more closed ecosystems within DeFi, weakening the liquidity and network effects of open financial networks. Stani stated that excessive restrictions may increase barriers to innovation and slow the development of open, transparent, and auditable financial infrastructure. He believes that stablecoins, DeFi, and tokenized securities have the potential to reduce friction in financial services, enhance transparency, and expand channels for users to access financial opportunities. He urged European regulators to place users and their interests at the core of the regulatory framework. Finally, he concluded: "DeFi will ultimately prevail." [Original Link]