Circle Seeks MiCA Overhaul for Stablecoin Issuance

Circle, a leading stablecoin issuer, has urged European policymakers to revise MiCA's rules on stablecoin issuance and reserve requirements.

The company claims that only three of the top 30 largest stablecoins comply with the current framework: USDC, USDG, and EURC.

Circle wants EU regulators to preserve cross-border issuance arrangements involving European and overseas affiliates, replacing mandatory bank deposit thresholds with rules based on reserve liquidity.