The Danish authorities intend to tighten the rules for regulating the crypto market

The department will create its own classification, taking into account the technical characteristics and level of potential risk posed by assets and services. For example: is a cryptocurrency product a centralized or decentralized investment instrument, a payment service, a commodity, or something else? What are the legal and operational risks, as well as the level of trust in the team behind the project development?

For high-risk projects and assets, the DFSA intends to introduce higher requirements - or completely ban the activity. MiCA comes into force in December 2024. Danish officials intend to finalize their rules - soon after. Earlier, MakerDAO co-founder Rune Christensen shared concerns that MiCA could hinder the full development of DeFi projects in Europe.