EU Considers Broader Crypto Rules Amid Global Stablecoin Pressure
The European Union is considering expanding its crypto rules, following the first implementation phase of MiCA (Markets in Crypto-Assets) regulation. The EU's regulatory review, which began on May 20 and will close on September 30, aims to address gaps in the current framework.
One key area of discussion is global stablecoins, which have become a major pressure point for regulators. The EU has banned non-compliant tokens, such as USDT, but cross-border issuance raises concerns about liquidity and regulatory competition with other jurisdictions.
The review also explores whether to bring staking, lending, and DeFi (Decentralized Finance) protocols within the scope of EU regulation. This could reduce legal uncertainty while increasing compliance costs for exchanges and other crypto-asset service providers (CASPs).