Aave founder criticizes ECB and EBA responses to MiCA consultation

  • Stani Kulechov criticized ECB and EBA responses to the MiCA consultation.
  • Kulechov opposed proposed suitability tests and certification for DeFi lending protocols.
  • The Aave founder said the restrictions could create broader problems for DeFi.

Aave founder Stani Kulechov said he was disappointed by the European Central Bank and European Banking Authority responses to a MiCA consultation. He criticized proposed suitability tests for people seeking access to decentralized finance and a potential certification regime for DeFi lending protocols, arguing that the restrictions could create broader problems for the sector.

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