AAVE rose 9.32% over 24 hours to $183.24 on October 2 at 15:00 UTC, with trading volume up 64.78% to $708 million and market capitalization at $2.82 billion. The move came as Aave founder Stani Kulechov criticized positions from the European Central Bank (ECB), European Banking Authority (EBA) and European Securities and Markets Authority (ESMA) during the European Union’s review of the Markets in Crypto-Assets Regulation (MiCA). The proposals could restrict stablecoin yield, regulate how crypto-asset service providers connect customers with decentralized finance (DeFi), and introduce suitability tests, leverage limits, disclosures and certification for DeFi lending protocols. The European System of Central Banks has argued that limits on stablecoin remuneration should also cover indirect returns from lending, borrowing and staking. Morpho opposed mandatory protocol certification and a separate MiCA service for DeFi access, while supporting obligations focused on identifiable intermediaries and access points rather than decentralized code. Circle and the Hyperliquid Policy Center have separately sought changes to stablecoin reserve rules and the treatment of perpetual futures. The European Commission’s consultation closed September 30, but the proposals remain recommendations rather than adopted EU rules.