The EU is about to decide who's "in charge" of DeFi lending. Problem is... nobody is. No CEO. No head office. Just code split across roles, some setting strategy, some pulling the risk levers, none of them technically "the lender." That's the exact kind of decentralization DeFi promised us. Now regulators have to decide if it's a feature or a loophole. Feedback closes Sept 30, 2026. However this goes, it'll shape what "DeFi" is even allowed to mean in Europe.(Lark Davis)