The European Banking Authority has urged the European Commission to consider bringing crypto borrowing and lending, including regulated firms' access routes to decentralized-finance lending protocols, within the European Union's Markets in Crypto-Assets framework. The EBA recommended a cost-benefit analysis of extending MiCA to crypto-asset service providers that intermediate lending, route customers to DeFi protocols or provide interfaces to such services. Potential measures include suitability assessments, leverage limits, stronger disclosures, stablecoin lending restrictions and certification for protocols accessible through regulated firms. The authority also called for stronger rules on third-country multi-issuer stablecoins, a review of reserve-deposit requirements, clearer boundaries between MiCA and other EU financial laws, and improved reporting by token issuers and crypto-asset service providers. MiCA's stablecoin provisions took effect in June 2024 and most other provisions in December 2024. As of Sept. 1, 2026, the EBA counted 39 electronic money tokens issued under MiCA and no authorized asset-referenced tokens. The recommendations form part of the Commission's broader review, whose consultation closes on Sept. 30, 2026 and could lead to legislative changes.