According to CoinMeta, the French Ministry of Finance, the Financial Markets Authority, the Bank of France, and the Prudential Supervision and Resolution Authority have jointly proposed to revise EU legislation regarding MICA. The proposal requires crypto platforms to be responsible for customer losses when they provide access to DEFI protocols without reviewing or ignoring associated risks. France suggests that platforms should review these protocols and monitor for vulnerabilities, and also supports the certification of smart contracts. These requirements apply to providers of important crypto asset services. Additionally, France proposes to transfer the regulatory authority over such providers to the European Securities and Markets Authority (ESMA), lower the threshold for identifying platforms with 15 million daily active users, and adjust the frameworks for asset reference tokens and electronic currency tokens.