Malta Regulator Opens DeFi Consultation As DAO Governance Enters Policy Spotlight
Malta’s Financial Services Authority has opened a consultation on decentralized finance, asking how DeFi should fit within Europe’s MiCA framework and existing financial rules. The paper is not a final rulebook; it explores governance, accountability, software-based organizational models, account abstraction, segregated cell structures, and “Guardian Agents” for protocol risk controls. A key issue is DAO-style governance, where responsibility is unclear if something fails: developers, token voters, interface operators, foundations, or no one. The consultation runs from June 12 to July 10, 2026. It signals that European regulators are moving from broad crypto principles toward specific questions about how decentralized systems operate and how they can be supervised.
