In February 2025, we actively participated in the ACPR-AMF Fintech Forum consultation on smart contract certification. Our response emphasizes the need for a pragmatic and innovation-friendly certification framework. Recognizing the rapid evolution and interconnected nature of smart contracts, particularly in decentralized finance (DeFi), we advocate for a voluntary or ex-post certification approach rather than mandatory, ex-ante requirements that could hinder innovation.

 

We highlight that community-driven best practices and widely recognized security standards, such as the Ethereum Enterprise Alliance’s EthTrust, OWASP Top 10, and open vulnerability registries, effectively address many security risks. Additionally, we stress the importance of clear governance processes and detailed documentation to enhance user trust and understanding.

 

Importantly, we caution against overly rigid regulatory approaches, proposing instead a proportionate and flexible model tailored to the criticality and complexity of individual contracts or protocols. Given the global nature of DeFi, we underline the importance of international harmonization to prevent regulatory fragmentation that could harm Europe’s competitiveness in blockchain technologies.

 

Finally, acknowledging the potential burden of certification for smaller projects, we suggest targeted incentives or legal protections to support innovation and avoid regulatory arbitrage.

 

Through our contribution, we remain committed to fostering a balanced approach that secures smart contracts, promotes innovation, and strengthens Europe’s leadership in decentralized finance and blockchain technologies.