# ESMA Seeks MiCA Changes for DeFi, Staking and Online Fraud By Riza Dagoc Canonical URL: https://www.tokenpost.com/news/regulation/25828 Published: 2026-09-30T13:53:19.000Z Updated: 2026-09-30T13:53:19.000Z Section: Regulation > The European Union securities regulator proposed stricter marketing rules, broader disclosures and stronger supervisory tools as the bloc reviews its crypto framework. The European Securities and Markets Authority (ESMA) proposed changes to the European Union’s crypto framework covering decentralized finance, staking and online fraud as regulators review rules that affect firms serving the bloc’s market. ESMA submitted the recommendations to the European Commission on Sept. 30. The proposals are not amendments to the Markets in Crypto-Assets Regulation (MiCA), and they do not set an implementation timetable. The recommendations call for stricter crypto marketing rules, including tighter requirements for promotions by influencers and other third parties. They also seek broader disclosures on costs, risks, rewards, collateral arrangements and potential losses linked to staking, lending and borrowing. ESMA proposed stronger powers to detect, block and deactivate fraudulent websites. It also called for crypto-assets to be frozen when market abuse or terrorist financing is suspected and for measures against unauthorized firms outside the European Union that solicit EU investors. The regulator recommended explicit rules preventing regulated crypto firms from offering services connected to stablecoins that do not comply with MiCA. It also proposed criteria for determining when an activity is genuinely decentralized and a regulated crypto-asset service for firms that give users access to decentralized-finance protocols. The recommendations include EU-wide rules for classifying crypto-assets, including hybrid tokens, and authority for ESMA to issue binding opinions on classification. ESMA also proposed simpler white-paper notifications, fewer duplicative authorization requirements for some regulated firms and more consistent prudential rules. MiCA created the EU’s harmonized framework for crypto-assets, asset-referenced tokens, e-money tokens and crypto-asset service providers. The regulation entered into force June 29, 2023, while the Commission opened its review consultation May 20, 2026, with submissions due Aug. 31. The review also considers how newer activities fit within MiCA. [The Commission’s MiCA review]() is separate from ESMA’s recommendations and does not predetermine a final legislative proposal. For longer-term policy, ESMA called for a framework covering tokenized securities and on-chain settlement to support an integrated European tokenized capital market. ## Links in this article - [The Commission’s MiCA review](https://www.tokenpost.com/news/regulation/25747)