For DeFi Protocols

MiCA says you need a license.
The CLARITY Act says you might not.

DeFi protocols with identifiable governance face a new reality: regulators in different jurisdictions disagree on whether you're even in scope — and if you are, what obligations apply. OmniRule maps the conflicts so you can make informed structuring decisions.

The regulatory uncertainty DeFi protocols face

Scope test divergence

MiCA's "identifiable issuer" test may capture your foundation. CLARITY Act's DeFi carve-out may exempt your US operations. These co-exist — you need both answers.

Licensing vs exemption

EU requires CASP authorization by July 2026. US may exempt you under CLARITY. Singapore PSA applies if you have "active market making" in SG. Three different conclusions for one protocol.

AML/CFT obligations

EU Transfer of Funds Regulation: zero-threshold Travel Rule on all transfers. US FinCEN: $3,000 threshold. Singapore PSN02: $1,100 threshold with extra data fields. Which applies to your cross-border flows?

Governance token classification

SEC may view governance tokens as securities (Howey test). MiCA classifies them as utility tokens (different regime). MAS has yet another framework. Your token's legal status changes by jurisdiction.

What OmniRule delivers for DeFi protocols

  • Scope analysis — are you in-scope under MiCA, CLARITY Act, and PSA? Clear answer per jurisdiction with regulatory citations
  • Conflict map — where US exemption contradicts EU licensing requirement, and how to structure for both
  • Risk scoring — which obligations carry real enforcement risk vs theoretical concern
  • Grace period tracking — MiCA deadlines, CLARITY Act effective dates, MAS transition periods
  • AML/CFT obligation matrix — Travel Rule thresholds and data requirements per jurisdiction, with conflict resolution
  • Regulatory radar — ESMA Q&As, SEC no-action letters, MAS guidance that affect DeFi protocol obligations

See how DeFi protocols use OmniRule

DeFi Lending Protocol Navigates MiCA Scope Test After Grace Period Expiry

A governance-token-controlled lending protocol got a scope determination in 72 hours — after 3 months of internal debate.

Read the case study View all DeFi case studies

Know where you stand — in every jurisdiction

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