According to CoinMeta, Stani Kulechov expressed disappointment at the responses of the European Central Bank and the European Banking Authority to their consultations regarding MiCA. He criticized the proposals that advocate for banning stablecoins from paying yields, suggested restricting crypto asset service providers from offering users access to DEFI, and proposed limiting the user groups who can access DEFI through suitability tests, as well as considering implementing a certification system for DEFI lending agreements. Kulechov believes that allowing regulatory authorities to decide which protocols are suitable for European users would create a closed ecosystem, weaken the liquidity and network effects of open financial networks, and that excessive restrictions would increase barriers to innovation. He stated that stablecoins, DEFI, and tokenized securities have the potential to reduce friction in financial services, improve transparency, and expand users' access to financial services, and called on European regulators to place users and their interests at the core of the regulatory framework.