M\u1ed9t trong nh\u1eefng ki\u1ebfn tr\u00fac s\u01b0 c\u1ee7a MiCA<\/strong> cho bi\u1ebft \u00f4ng kh\u00f4ng th\u1ea5y c\u1ea7n thi\u1ebft ph\u1ea3i quy \u0111\u1ecbnh DeFi<\/strong> trong b\u1ed1i c\u1ea3nh \u1ee6y ban Ch\u00e2u \u00c2u \u0111ang thu th\u1eadp ph\u1ea3n h\u1ed3i v\u1ec1 t\u01b0\u01a1ng lai c\u1ee7a khung ph\u00e1p l\u00fd n\u00e0y. Theo \u00f4ng, Li\u00ean minh Ch\u00e2u \u00c2u<\/strong> n\u00ean t\u1eadp trung v\u00e0o vi\u1ec7c x\u00e2y d\u1ef1ng m\u1ed9t khung ph\u00e1p l\u00fd cho t\u00e0i s\u1ea3n k\u1ef9 thu\u1eadt s\u1ed1<\/strong> r\u1ed9ng h\u01a1n, bao g\u1ed3m c\u1ea3 t\u00e0i s\u1ea3n th\u1ef1c v\u00e0 token h\u00f3a, thay v\u00ec ch\u1ec9 quy \u0111\u1ecbnh t\u00e0i ch\u00ednh phi t\u1eadp trung th\u00f4ng qua phi\u00ean b\u1ea3n th\u1ee9 hai c\u1ee7a Quy \u0111\u1ecbnh v\u1ec1 Th\u1ecb tr\u01b0\u1eddng trong T\u00e0i s\u1ea3n K\u1ef9 thu\u1eadt s\u1ed1 (MiCA).<\/p>\n Peter Kerstens, m\u1ed9t c\u1ed1 v\u1ea5n t\u1ea1i \u1ee6y ban Ch\u00e2u \u00c2u, \u0111\u00e3 chia s\u1ebb quan \u0111i\u1ec3m n\u00e0y v\u1edbi Cointelegraph<\/em> trong m\u1ed9t cu\u1ed9c tr\u00f2 chuy\u1ec7n b\u00ean l\u1eeda t\u1ea1i WAIB Summit Monaco 2026<\/strong>. \u00d4ng nh\u1ea5n m\u1ea1nh r\u1eb1ng ph\u1ea3n h\u1ed3i nh\u1eadn \u0111\u01b0\u1ee3c trong th\u1eddi gian xem x\u00e9t hi\u1ec7n t\u1ea1i c\u1ee7a \u1ee6y ban Ch\u00e2u \u00c2u s\u1ebd gi\u00fap \u0111\u1ecbnh h\u00ecnh c\u00e1c b\u01b0\u1edbc quy \u0111\u1ecbnh ti\u1ebfp theo c\u1ee7a kh\u1ed1i.<\/p>\n MiCA \u0111ang ti\u1ebfn g\u1ea7n \u0111\u1ebfn th\u1eddi h\u1ea1n chuy\u1ec3n ti\u1ebfp v\u00e0o ng\u00e0y 1 th\u00e1ng 7<\/strong>, sau \u0111\u00f3 c\u00e1c nh\u00e0 cung c\u1ea5p d\u1ecbch v\u1ee5 t\u00e0i s\u1ea3n ti\u1ec1n \u0111i\u1ec7n t\u1eed s\u1ebd ph\u1ea3i c\u00f3 gi\u1ea5y ph\u00e9p MiCA ho\u1eb7c ng\u1eebng ph\u1ee5c v\u1ee5 kh\u00e1ch h\u00e0ng EU. C\u00e1c giao th\u1ee9c t\u00e0i ch\u00ednh phi t\u1eadp trung (DeFi) \u0111\u00e3 \u0111\u01b0\u1ee3c \u0111\u01b0a v\u00e0o danh s\u00e1ch c\u00e1c l\u0129nh v\u1ef1c r\u1ee7i ro m\u1edbi n\u1ed5i trong cu\u1ed9c tham v\u1ea5n, m\u1eb7c d\u00f9 ch\u00fang ch\u1ee7 y\u1ebfu n\u1eb1m ngo\u00e0i ph\u1ea1m vi hi\u1ec7n t\u1ea1i c\u1ee7a MiCA.<\/p>\n Kerstens cho bi\u1ebft vi\u1ec7c quy \u0111\u1ecbnh DeFi s\u1ebd g\u1eb7p kh\u00f3 kh\u0103n v\u00ec lu\u1eadt c\u00f3 th\u1ec3 \u00e1p d\u1ee5ng cho con ng\u01b0\u1eddi v\u00e0 t\u1ed5 ch\u1ee9c, nh\u01b0ng kh\u00f4ng th\u1ec3 \u00e1p d\u1ee5ng tr\u1ef1c ti\u1ebfp cho c\u00e1c m\u1ea1ng m\u00e1y t\u00ednh. \u00d4ng cho r\u1eb1ng c\u00e1c nh\u00e0 l\u1eadp ph\u00e1p s\u1ebd c\u1ea7n m\u1ed9t h\u1ecdc thuy\u1ebft ph\u00e1p l\u00fd m\u1edbi<\/strong> \u0111\u1ec3 quy \u0111\u1ecbnh c\u00e1c th\u1ef1c th\u1ec3 kh\u00f4ng t\u1ed3n t\u1ea1i. Kerstens c\u0169ng nh\u1ea5n m\u1ea1nh r\u1eb1ng \u00f4ng kh\u00f4ng th\u1ea5y c\u1ea7n thi\u1ebft ph\u1ea3i quy \u0111\u1ecbnh DeFi, m\u00e0 \u00f4ng m\u00f4 t\u1ea3 l\u00e0 m\u1ed9t “cu\u1ed9c chuy\u1ec3n \u0111\u1ed9ng” kh\u00f4ng c\u00f3 “\u0111\u1ea1i di\u1ec7n”.<\/p>\n Tr\u01b0\u1edbc \u0111\u00f3 v\u00e0o th\u00e1ng 3, m\u1ed9t t\u00e0i li\u1ec7u l\u00e0m vi\u1ec7c t\u1eeb Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng Ch\u00e2u \u00c2u<\/strong> \u0111\u00e3 \u0111\u1eb7t c\u00e2u h\u1ecfi li\u1ec7u c\u00e1c t\u1ed5 ch\u1ee9c t\u1ef1 tr\u1ecb phi t\u1eadp trung (DAOs)<\/strong> c\u00f3 \u0111\u1ee7 phi t\u1eadp trung \u0111\u1ec3 n\u1eb1m ngo\u00e0i ph\u1ea1m vi c\u1ee7a MiCA hay kh\u00f4ng. Nh\u00ecn v\u00e0o Aave<\/strong>, MakerDAO<\/strong>, Ampleforth<\/strong> v\u00e0 Uniswap<\/strong>, t\u00e0i li\u1ec7u n\u00e0y cho th\u1ea5y 100 ng\u01b0\u1eddi n\u1eafm gi\u1eef token qu\u1ea3n tr\u1ecb h\u00e0ng \u0111\u1ea7u ki\u1ec3m so\u00e1t h\u01a1n 80%<\/strong> ngu\u1ed3n cung trong m\u1ed7i giao th\u1ee9c, d\u1ef1a tr\u00ean c\u00e1c b\u1ee9c \u1ea3nh ch\u1ee5p s\u1ed1 l\u01b0\u1ee3ng n\u1eafm gi\u1eef t\u1eeb th\u00e1ng 11 n\u0103m 2022 v\u00e0 th\u00e1ng 5 n\u0103m 2023.<\/p>\n C\u00e1c t\u00e1c gi\u1ea3 cho bi\u1ebft nh\u1eefng ph\u00e1t hi\u1ec7n n\u00e0y \u0111\u1eb7t ra c\u00e2u h\u1ecfi li\u1ec7u DAOs c\u00f3 th\u1ef1c s\u1ef1 phi t\u1eadp trung hay kh\u00f4ng v\u00e0 li\u1ec7u ch\u00fang c\u00f3 n\u00ean n\u1eb1m ngo\u00e0i quy \u0111\u1ecbnh c\u1ee7a MiCA nh\u01b0 l\u00e0 c\u00e1c d\u1ecbch v\u1ee5 “ho\u00e0n to\u00e0n phi t\u1eadp trung” hay kh\u00f4ng.<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":" Quan \u0111i\u1ec3m v\u1ec1 Quy \u0111\u1ecbnh DeFi trong Khung Ph\u00e1p l\u00fd MiCA M\u1ed9t trong nh\u1eefng ki\u1ebfn tr\u00fac s\u01b0 c\u1ee7a MiCA cho bi\u1ebft \u00f4ng kh\u00f4ng th\u1ea5y c\u1ea7n thi\u1ebft ph\u1ea3i quy \u0111\u1ecbnh DeFi trong b\u1ed1i c\u1ea3nh \u1ee6y ban Ch\u00e2u \u00c2u \u0111ang thu th\u1eadp ph\u1ea3n h\u1ed3i v\u1ec1 t\u01b0\u01a1ng lai c\u1ee7a khung p…<\/p>\n","protected":false},"author":3,"featured_media":20071,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48],"tags":[5473,4362,4422,9081,4217,9976,4363,5120],"class_list":["post-20072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal","tag-aave","tag-eu","tag-european-central-bank","tag-european-commission","tag-legal","tag-makerdao","tag-mica","tag-uniswap"],"yoast_head":"\n\u00dd ki\u1ebfn c\u1ee7a Peter Kerstens<\/h2>\n
Kh\u00f3 kh\u0103n trong vi\u1ec7c quy \u0111\u1ecbnh DeFi<\/h2>\n
V\u1ea5n \u0111\u1ec1 v\u1ec1 DAOs v\u00e0 t\u00ednh phi t\u1eadp trung<\/h2>\n
\n