Aave founder: EU MiCA proposes to restrict or hinder access to open financial networks

PANews reported on October 2 that according to The Block, Aave founder Stani Kulechov said he was “disappointed” with the ECB and European Banking Authority’s response to the MiCA consultation. He criticized the proposed DeFi access appropriateness test, as well as the certification system that may be implemented for DeFi lending protocols, arguing that these restrictions may create "walled gardens" that restrict access to open financial networks.