Christine Lagarde is suggesting a follow-up framework ... MICA II is in the Making

“Innovations in these unexplored and uncharted territories put consumers at risk, where the lack of regulation is often covering fraud, completely illegitimate claims about valuation, and very often speculation as well as criminal dealings,” Lagarde warned. 

Delayed Ethereum POS is going to be questioned

The minimum to validate transactions on Ethereum’s new proof of stake Blockchain is 32 Ether. The number of ETH staked on the new and delayed network is 13.599.521 with an approximate value of $16 billion. (More than 10% of the total supply)

Since decentralized finance has the potential to pose a “real risk to financial stability,” Lagarde said this, too, should be fully covered in a second regulatory framework, rather than just limit itself to financial intermediaries. 

That way the world’s premier cryptocurrency, which lacks a defined issuer, would be captured as well in the future. “Bitcoin will not be covered by MiCA I,” she said, “but hopefully for MiCA II, you will take that into account.”