Roeland Van der Stappen, head of EU policy at Coinbase, warned that new European Union proposals to regulate decentralized finance could inadvertently drive users toward platforms with fewer investor protections. He suggested that regulated crypto platforms might respond to stricter oversight by limiting or completely removing access to DeFi services.
The European Securities and Markets Authority proposed creating a new category of regulated crypto services for firms providing access to DeFi protocols. Additionally, the European Banking Authority recommended implementing suitability tests for crypto lending and borrowing, which would assess whether a specific service is appropriate for a customer.
Van der Stappen argued that applying these tests broadly—for instance, to simple stablecoin swaps—would be disproportionate, as it treats low-risk activities the same as leveraged lending. He noted that such restrictions could fragment liquidity, lead to worse trade prices for EU users, and encourage the growth of isolated services.
Data from a 2026 Adan-Ipsos survey indicates that 49% of French crypto buyers prefer accessing DeFi through exchanges, while only 14% use personal wallets. Meanwhile, a Chainalysis report noted that crypto activity across the EU grew by 2.2% in the 12 months leading up to June 2026.
