Peter Kerstens noted that regulating DeFi will be complex. He explained that current laws can only be applied to individuals and organizations, not to networks. A new legal doctrine will be required to regulate DeFi. At the same time, Kerstens emphasized that MiCA itself is not outdated. However, in May, the European Commission initiated public consultations on changes to crypto regulation rules, which will run until August 31. European regulators are questioning the decentralization of major DeFi services such as Aave, MakerDAO, Ampleforth, and Uniswap. They highlight that the top 100 holders control over 80% of the token issuance. Officials are skeptical that DAOs should remain outside the scope of MiCA as "fully decentralized" services.