Key Takeaways Aave’s Stani Kulechov criticized EU MiCA proposals that could restrict stablecoin yield and DeFi access. EBA and ESMA ideas could push Europe toward tighter DeFi gateways, tests, and protocol certification. The key test is whether post-Sept. 30 MiCA changes preserve open DeFi or favor approved access points. MiCA Review Puts DeFi Access in Focus Aave founder Stani Kulechov is warning that Europe risks regulating the openness of decentralized finance. Kulechov shared an X thread on Friday expressing his disappointment with positions emerging from the European Central Bank (ECB) and European Banking Authority (EBA) during the EU’s review of …