New EU Rules for DeFi and NFTs Approved by European Parliament: What Changes Ahead.

European Parliament Expands Digital Asset Regulation

According to Мінфін — Крипто/Фінанси: On July 7, 2023, the European Parliament formally adopted its position on broadening digital asset oversight to include decentralized finance (DeFi) and non-fungible tokens (NFTs). This decision marks a major milestone in the rollout of the MiCA regulatory framework, whose transitional period ended on July 1, 2023. The updated rules aim to boost transparency and security across the digital asset market—a priority that has gained urgency following recent industry events. For context, MiCA is the European Union's landmark legislative package designed to create a unified legal framework for crypto assets across member states.

Crypto Market Developments

In a striking example of the market's volatility, a trader turned $838 into $1.05 million in just 20 days by betting on the memecoin CASHCAT. The wallet address 0xDE4C acquired 15.04 million tokens of this asset, highlighting strong investor appetite for emerging opportunities. Daily trading volume for CASHCAT reached $57.8 million, underscoring the high level of market participation.

Amid this surge in crypto popularity, Belgium’s Financial Services and Markets Authority (FSMA) flagged six illegal crypto firms. These include:

• Aurum Foundation
• Bank Bit
• Bithf Pro
• Dxago
• Global Dynamic Trade
• ZeriaFunding

This discovery, along with the $21.2 million reportedly drained from BonkDAO, underscores the pressing need for stricter market oversight and stronger consumer protections in the crypto space.

These recent events highlight the continued growth of the digital asset market and the corresponding demand for clear regulations to curb fraud and safeguard investor interests. The European Parliament’s expanded regulatory framework could be a critical step toward building a more stable and secure environment for market participants. At the same time, the flurry of activity around new token listings reflects sustained investor enthusiasm for innovative financial products, illustrating the sector’s dynamic and fast-evolving nature.