[European Commission Evaluates Including DeFi Lending Under MiCA Regulation, Legal Definition of Lending Vaults Poses Challenges] According to a report by Cointelegraph, the European Commission is assessing whether to include DeFi lending activities under the scope of MiCA regulation and initiated a related consultation on May 20, which will conclude on September 30. The legal classification of DeFi lending vaults has become a contentious issue, as their functions are executed through smart contracts and multiple participants, making it difficult to identify a single service provider. Taking Morpho Vault V2 as an example, its structure assigns responsibilities to roles such as owner, curator, allocator, and sentinel. Legal experts have pointed out that if regulation treats DeFi lending as a unified category, it could place products with differing economic functions under the same framework. Currently, MiCA excludes fully decentralized services, but partially decentralized activities may still fall under relevant rules.