★ECB paper finds DeFi governance concentrated, warns results could affect ‘regulatory anchor points’

"The ECB's findings on concentrated DeFi governance, particularly within exchanges and protocol-linked wallets, signal a critical regulatory inflection point. This concentration poses systemic risks, potentially attracting heightened scrutiny that could reshape market structure, capital flows, and the operational viability of decentralized finance protocols within traditional financial frameworks. Institutional investors must anticipate regulatory responses that may impact asset classification, compliance burdens, and overall market access."