{"id":180264,"date":"2026-06-18T22:03:14","date_gmt":"2026-06-18T22:03:14","guid":{"rendered":"https:\/\/ktromedia.com\/?p=180264"},"modified":"2026-06-18T22:03:14","modified_gmt":"2026-06-18T22:03:14","slug":"%e9%a9%ac%e8%80%b3%e4%bb%96%e8%b5%b7%e8%8d%89-defi-%e8%a7%84%e5%88%99%ef%bc%8c%e5%8c%85%e6%8b%ac-mica-%e6%a1%86%e6%9e%b6%e4%b8%8b%e7%9a%84-dao-bitrss","status":"publish","type":"post","link":"https:\/\/ktromedia.com\/?p=180264","title":{"rendered":"\u9a6c\u8033\u4ed6\u8d77\u8349 DeFi \u89c4\u5219\uff0c\u5305\u62ec MiCA \u6846\u67b6\u4e0b\u7684 DAO &#8211; BitRss"},"content":{"rendered":"<div>\n<div class=\"adblock\">\n                <a href=\"https:\/\/scriptnet.net\/dokky-suite\" target=\"_blank\" rel=\"noopener\" title=\"Dokky\u00ae Script - Professional way to Publish, Manage, and Share documents\"><\/a><\/p>\n<hr\/><\/div>\n<p><img fetchpriority=\"high\" width=\"862\" height=\"862\" src=\"https:\/\/ktromedia.com\/wp-content\/uploads\/2026\/06\/\u9a6c\u8033\u4ed6\u8d77\u8349-DeFi-\u89c4\u5219\uff0c\u5305\u62ec-MiCA-\u6846\u67b6\u4e0b\u7684-DAO-BitRss.jpg\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"\u9a6c\u8033\u4ed6\u5728 Mica \u6846\u67b6\u4e0b\u8d77\u8349\u5305\u62ec Daos \u5728\u5185\u7684 Defi \u89c4\u5219\" thumbnail=\"\" decoding=\"async\"  \/><\/p>\n<p>\u9a6c\u8033\u4ed6\u7684\u91d1\u878d\u76d1\u7ba1\u673a\u6784\u5df2\u671d\u7740\u5b9a\u4e49\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d\uff08DeFi\uff09\u548c\u53bb\u4e2d\u5fc3\u5316\u81ea\u6cbb\u7ec4\u7ec7\uff08DAO\uff09\u5982\u4f55\u878d\u5165\u6b27\u6d32\u73b0\u6709\u7684\u52a0\u5bc6\u8d27\u5e01\u89c4\u5219\u624b\u518c\u8fc8\u51fa\u4e86\u4e00\u6b65\u3002\u5728 6 \u6708 12 \u65e5\u516c\u5f00\u7684\u8ba8\u8bba\u6587\u4ef6\u4e2d\uff0c\u9a6c\u8033\u4ed6\u91d1\u878d\u670d\u52a1\u7ba1\u7406\u5c40 (MFSA) \u4e3a\u201c\u57fa\u4e8e\u8f6f\u4ef6\u7684\u7ec4\u7ec7\u201d\u63d0\u51fa\u4e86\u4e00\u4e2a\u6f5c\u5728\u7684\u6cd5\u5f8b\u6846\u67b6\uff0c\u8fd9\u4e00\u7c7b\u522b\u65e8\u5728\u6db5\u76d6 DAO \u548c\u5176\u4ed6\u901a\u8fc7\u8f6f\u4ef6\u7ba1\u7406\u7684 DeFi \u5b9e\u4f53\u3002<\/p>\n<p>\u8be5\u78cb\u5546\u5c06\u6301\u7eed\u5230 7 \u6708 10 \u65e5\uff0c\u5e76\u660e\u786e\u4e0e\u6b27\u76df\u52a0\u5bc6\u8d44\u4ea7\u5e02\u573a (MiCA) \u5236\u5ea6\u6302\u94a9\u3002\u5c3d\u7ba1 MFSA \u627f\u8ba4\u771f\u6b63\u7684\u53bb\u4e2d\u5fc3\u5316\u670d\u52a1\u53ef\u80fd\u4e0d\u5c5e\u4e8e MiCA \u7684\u8303\u56f4\uff0c\u4f46\u5176\u8bba\u6587\u8ba4\u4e3a\uff0c\u8bb8\u591a DeFi \u9879\u76ee\u4ecd\u7136\u5b58\u5728\u4f7f\u5b8c\u5168\u53bb\u4e2d\u5fc3\u5316\u7684\u4e3b\u5f20\u53d8\u5f97\u590d\u6742\u7684\u56e0\u7d20\uff0c\u4ece\u800c\u9020\u6210\u4e86\u8c01\u5c06\u5728\u91d1\u878d\u76d1\u7ba1\u4e0b\u8d1f\u8d23\u7684\u4e0d\u786e\u5b9a\u6027\u3002<\/p>\n<h2>\u8981\u70b9<\/h2>\n<ul>\n<li>MFSA \u4e8e 6 \u6708 12 \u65e5\u5728\u6b27\u76df MiCA \u6846\u67b6\u4e0b\u542f\u52a8\u4e86 DeFi \u54a8\u8be2\uff0c\u9080\u8bf7\u884c\u4e1a\u53cd\u9988\u76f4\u81f3 7 \u6708 10 \u65e5\u3002<\/li>\n<li>\u76d1\u7ba1\u673a\u6784\u5efa\u8bae\u5c06 DAO \u89c6\u4e3a\u4e00\u79cd\u201c\u57fa\u4e8e\u8f6f\u4ef6\u7684\u7ec4\u7ec7\u201d\uff0c\u5c06\u5b9e\u4f53\u7684\u6cd5\u5f8b\u89c4\u5219\u4e0e\u5e95\u5c42\u534f\u8bae\u7684\u89c4\u5219\u5206\u5f00\u3002<\/li>\n<li>MFSA \u5f3a\u8c03 MiCA \u6392\u9664\u5b8c\u5168\u53bb\u4e2d\u5fc3\u5316\u7684\u6a21\u5f0f\uff0c\u4f46\u8868\u793a\u8bb8\u591a DeFi \u7cfb\u7edf\u4fdd\u7559\u4e86\u4e2d\u5fc3\u5316\u7684\u529f\u80fd\uff0c\u8fd9\u5f15\u53d1\u4e86\u76d1\u7ba1\u95ee\u8d23\u95ee\u9898\u3002<\/li>\n<li>\u63a8\u52a8\u66f4\u660e\u786e\u7684 DeFi \u5f85\u9047\u4e0e\u66f4\u5e7f\u6cdb\u7684\u6b27\u76df\u5de5\u4f5c\u76f8\u4e00\u81f4\uff0c\u5305\u62ec\u6b27\u6d32\u592e\u884c\u6587\u4ef6\u548c\u6b27\u76df\u59d4\u5458\u4f1a 5 \u6708\u4efd\u542f\u52a8\u7684 MiCA \u5ba1\u67e5\u3002<\/li>\n<\/ul>\n<h2>\u4e3a\u4ec0\u4e48\u9a6c\u8033\u4ed6\u63d0\u51fa\u201c\u57fa\u4e8e\u8f6f\u4ef6\u7684\u7ec4\u7ec7\u201d<\/h2>\n<p>MFSA \u5728\u5176\u8ba8\u8bba\u6587\u4ef6\u4e2d\u63d0\u51fa\u4e86\u4e00\u4e2a\u6838\u5fc3\u76d1\u7ba1\u6311\u6218\uff1aMiCA \u6ca1\u6709\u6e05\u695a\u5730\u63cf\u8ff0\u5f53\u91d1\u878d\u6d3b\u52a8\u901a\u8fc7\u4ee3\u7801\u800c\u4e0d\u662f\u4f20\u7edf\u7684\u516c\u53f8\u7ed3\u6784\u8fdb\u884c\u534f\u8c03\u65f6\uff0c\u6cbb\u7406\u548c\u8d23\u4efb\u5e94\u5982\u4f55\u8fd0\u4f5c\u3002 MFSA \u5e76\u6ca1\u6709\u8bd5\u56fe\u4e3a DAO \u521b\u5efa\u4e00\u4e2a\u5b8c\u5168\u72ec\u7acb\u7684\u6cd5\u5f8b\u6982\u5ff5\uff0c\u800c\u662f\u91c7\u53d6\u4e86\u66f4\u5177\u7ed3\u6784\u6027\u7684\u65b9\u6cd5\u2014\u2014\u5c06 DAO \u548c\u7c7b\u4f3c\u7684\u5b89\u6392\u5b9a\u4e49\u4e3a\u201c\u57fa\u4e8e\u8f6f\u4ef6\u7684\u7ec4\u7ec7\u201d\u3002<\/p>\n<p>\u8be5\u8bba\u6587\u79f0\uff0c\u8fd9\u5c06\u4f7f\u76d1\u7ba1\u673a\u6784\u80fd\u591f\u5173\u6ce8\u4f7f\u7528\u8f6f\u4ef6\u6cbb\u7406\u7684\u7ec4\u7ec7\u7684\u6cd5\u5f8b\u7279\u5f81\uff0c\u540c\u65f6\u4fdd\u6301\u5e95\u5c42\u534f\u8bae\u548c\u8f6f\u4ef6\u7684\u89c4\u5219\u4e0d\u540c\u3002\u76ee\u6807\u662f\u89e3\u51b3\u5408\u89c4\u548c\u76d1\u7ba1\u7684\u5b9e\u9645\u95ee\u9898\uff1a\u5982\u679c\u901a\u8fc7\u53bb\u4e2d\u5fc3\u5316\u673a\u5236\u6267\u884c\u6cbb\u7406\uff0c\u90a3\u4e48\u8c01\uff08\u5982\u679c\u6709\u7684\u8bdd\uff09\u5e94\u8be5\u88ab\u89c6\u4e3a\u5bf9\u53d7\u76d1\u7ba1\u7684\u6d3b\u52a8\u548c\u7ed3\u679c\u8d1f\u8d23\uff1f<\/p>\n<p>MFSA \u8fd8\u5f3a\u8c03 MiCA \u7684\u8303\u56f4\u5e76\u4e0d\u610f\u5473\u7740\u6db5\u76d6\u6240\u6709\u7c7b\u578b\u7684\u53bb\u4e2d\u5fc3\u5316\u5b89\u6392\u3002\u8be5\u6587\u4ef6\u6307\u51fa\uff0c\u201cMiCA \u5c06\u5b8c\u5168\u53bb\u4e2d\u5fc3\u5316\u7684\u6a21\u578b\u6392\u9664\u5728\u5176\u76d1\u7ba1\u8303\u56f4\u4e4b\u5916\u201d\uff0c\u5e76\u8865\u5145\u8bf4\uff0c\u6ca1\u6709\u4e2d\u4ecb\u6216\u4e2d\u592e\u63a7\u5236\u7684\u9879\u76ee\u53ef\u80fd\u4e0d\u9700\u8981\u9075\u5b88 MiCA\u3002 MFSA \u8ba4\u4e3a\uff0c\u95ee\u9898\u5728\u4e8e\u8bb8\u591a\u73b0\u5b9e\u4e16\u754c\u7684 DeFi \u9879\u76ee\u5e76\u4e0d\u80fd\u4ee4\u4eba\u4fe1\u670d\u5730\u8fbe\u5230\u8fd9\u4e00\u6807\u51c6\u3002<\/p>\n<h2>DeFi \u6cbb\u7406\u4ecd\u7136\u662f\u6b27\u76df\u5ba1\u67e5\u7684\u70ed\u70b9<\/h2>\n<p>\u9a6c\u8033\u4ed6\u7684\u78cb\u5546\u662f\u5728\u6b27\u76df\u66f4\u52a0\u5173\u6ce8\u662f\u5426\u4ee5\u53ca\u5982\u4f55\u6839\u636e MiCA \u76d1\u7ba1\u53bb\u4e2d\u5fc3\u5316\u7cfb\u7edf\u4e4b\u9645\u8fdb\u884c\u7684\u3002\u4eca\u5e74\u65e9\u4e9b\u65f6\u5019\uff0c\u6b27\u6d32\u592e\u884c\u7684\u4e00\u4efd\u5de5\u4f5c\u6587\u4ef6\u7814\u7a76\u4e86\u56db\u79cd\u4e3b\u8981 DeFi \u534f\u8bae\u7684\u6cbb\u7406\u548c\u63a7\u5236\uff0c\u53d1\u73b0\u63a7\u5236\u4ecd\u7136\u9ad8\u5ea6\u96c6\u4e2d\u3002\u867d\u7136\u6b27\u6d32\u592e\u884c\u7684\u5206\u6790\u4e0d\u4f1a\u81ea\u52a8\u786e\u5b9a MiCA \u5bf9\u6bcf\u4e2a\u534f\u8bae\u7684\u9002\u7528\u6027\uff0c\u4f46\u5b83\u4e3a\u201c\u5b8c\u5168\u53bb\u4e2d\u5fc3\u5316\u201d\u53ef\u80fd\u662f\u5927\u578b DeFi \u5e02\u573a\u4e2d\u7684\u4f8b\u5916\u800c\u4e0d\u662f\u89c4\u5219\u7684\u8bba\u70b9\u63d0\u4f9b\u4e86\u8bc1\u636e\u3002<\/p>\n<p>5 \u6708\u4efd\uff0c\u6b27\u76df\u59d4\u5458\u4f1a\u5bf9 MiCA \u8fdb\u884c\u4e86\u6709\u9488\u5bf9\u6027\u7684\u5ba1\u67e5\uff0c\u7ee7\u7eed\u5f3a\u8c03\u6cbb\u7406\u7ed3\u6784\u3002\u8be5\u5ba1\u67e5\u5bfb\u6c42\u5bf9\u51e0\u4e2a\u95ee\u9898\u7684\u53cd\u9988\uff0c\u5305\u62ec\u7a33\u5b9a\u5e01\u5229\u606f\u652f\u4ed8\u548c DeFi \u7684\u5904\u7406\uff0c\u4ee5\u53ca\u6846\u67b6\u4e2d\u7684\u5dee\u8ddd\u662f\u5426\u9700\u8981\u8fdb\u4e00\u6b65\u76d1\u7ba1\u3002<\/p>\n<p>\u5728\u6b64\u80cc\u666f\u4e0b\uff0c\u9a6c\u8033\u4ed6\u7684 MFSA \u6587\u4ef6\u53ef\u4ee5\u88ab\u89e3\u8bfb\u4e3a\u5c06\u6301\u7eed\u4e0d\u65ad\u7684\u653f\u7b56\u8fa9\u8bba\u8f6c\u5316\u4e3a\u53ef\u884c\u7684\u6cd5\u5f8b\u5206\u7c7b\u7684\u5c1d\u8bd5\u3002\u5982\u679c\u76d1\u7ba1\u673a\u6784\u65e0\u6cd5\u53ef\u9760\u5730\u533a\u5206\u5b8c\u5168\u53bb\u4e2d\u5fc3\u5316\u7684\u670d\u52a1\u4e0e\u5177\u6709\u6709\u610f\u4e49\u7684\u4e2d\u5fc3\u5316\u5f71\u54cd\u529b\u7684\u5b89\u6392\uff0c\u90a3\u4e48\u5e02\u573a\u5c31\u6709\u8d23\u4efb\u9884\u6d4b\u53ef\u80fd\u9002\u7528\u54ea\u4e9b\u5408\u89c4\u4e49\u52a1\u3002<\/p>\n<h2>\u5e76\u4e0d\u662f\u6bcf\u4e2a\u4eba\u90fd\u60f3\u8981\u7b2c\u4e8c\u672c\u4ee5 DeFi \u4e3a\u4e2d\u5fc3\u7684\u89c4\u5219\u624b\u518c<\/h2>\n<p>\u5c3d\u7ba1\u9a6c\u8033\u4ed6\u6b63\u5728\u5236\u5b9a\u9488\u5bf9 DeFi \u7684\u8ba8\u8bba\u6846\u67b6\uff0c\u4f46\u66f4\u5e7f\u6cdb\u7684\u6b27\u76df\u8bc4\u8bba\u8868\u660e\uff0c\u5bf9\u4e8e DeFi \u662f\u5426\u9700\u8981\u81ea\u5df1\u7684\u5355\u72ec\u76d1\u7ba1\u8f68\u9053\u5b58\u5728\u5206\u6b67\u3002\u5728\u65e9\u4e9b\u65f6\u5019\u62a5\u9053\u7ed9 Cointelegraph \u7684\u8a00\u8bba\u4e2d\uff0c\u6b27\u76df\u59d4\u5458\u4f1a\u987e\u95ee Peter Kerstens \u8ba4\u4e3a\uff0c\u653f\u7b56\u5236\u5b9a\u8005\u5e94\u8be5\u4f18\u5148\u8003\u8651\u5c06\u4ee3\u5e01\u5316\u6574\u5408\u5230\u66f4\u5e7f\u6cdb\u7684\u6570\u5b57\u8d44\u4ea7\u6846\u67b6\u4e2d\uff0c\u800c\u4e0d\u662f\u8ffd\u6c42\u4e13\u95e8\u9488\u5bf9 DeFi \u7684 MiCA \u7684\u201c\u7b2c\u4e8c\u7248\u672c\u201d\u3002<\/p>\n<p>\u8fd9\u4e00\u89c2\u70b9\u51f8\u663e\u4e86\u6b27\u76df\u505a\u6cd5\u4e2d\u7684\u7d27\u5f20\u5c40\u52bf\uff1a\u4e00\u4e2a\u9635\u8425\u8ba4\u4e3a\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d\u9700\u8981\u66f4\u6e05\u6670\u3001\u9002\u5408 DeFi 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DAO\uff09\u5982\u4f55\u5728\u6cd5\u5f8b\u4e0a\u5f97\u5230\u8ba4\u53ef\uff0c\u4ee5\u4fbf\u5728\u53bb\u4e2d\u5fc3\u5316\u9879\u76ee\u5728\u5b9e\u8df5\u4e2d\u5e76\u672a\u771f\u6b63\u53bb\u4e2d\u5fc3\u5316\u65f6\uff0cMiCA \u7684\u8d23\u4efb\u80fd\u591f\u5f97\u5230\u4e00\u81f4\u7684\u5e94\u7528\u3002<\/p>\n<h2>MFSA \u7684\u63d0\u8bae\u5bf9 DeFi \u9879\u76ee\u610f\u5473\u7740\u4ec0\u4e48<\/h2>\n<p>\u5bf9\u4e8e DeFi \u56e2\u961f\u548c\u6cbb\u7406\u7ba1\u7406\u8005\u6765\u8bf4\uff0cMFSA \u54a8\u8be2\u63d0\u51fa\u4e86\u4e00\u4e2a\u8d85\u8d8a\u6cd5\u5f8b\u8bcd\u6c47\u7684\u95ee\u9898\uff1a\u76d1\u7ba1\u673a\u6784\u5c06\u5982\u4f55\u4ee5\u51b3\u5b9a\u76d1\u7763\u548c\u95ee\u8d23\u7684\u65b9\u5f0f\u8bc4\u4f30\u53bb\u4e2d\u5fc3\u5316\uff1f<\/p>\n<p>\u901a\u8fc7\u5c06\u7ba1\u7406\u7ec4\u7ec7\u7684\u6cd5\u5f8b\u6846\u67b6\u4e0e\u7ba1\u7406\u534f\u8bae\u548c\u8f6f\u4ef6\u7684\u89c4\u5219\u5206\u5f00\uff0cMFSA 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