According to CoinMeta, the European Securities and Markets Authority (ESMA) has submitted recommendations to the European Commission regarding the revision of MiCA, proposing clearer disclosure and compliance requirements for user categories, as well as for margin trading, crypto lending, and borrowing. ESMA also suggests explicitly banning crypto platforms that are regulated by MiCA and strengthening regulatory powers over unauthorized overseas platforms. The aforementioned content is still in the review stage and has not yet become official regulations.