EU Revisits MiCA Regulation Amid Global Crypto Policy Shifts

The European Union is reviewing its Markets in Crypto-Assets Regulation (MiCA) to potentially ease rules for offshore stablecoin issuers. The move comes after feedback from industry stakeholders and amid pressure from evolving global crypto policies, including U.S. legislation like the GENIUS Act.

MiCA, which came into full effect in 2024, established a comprehensive regulatory framework for crypto assets in the EU. However, its stringent requirements for stablecoin issuers, particularly those based outside the EU, have limited market access. Companies like Tether, the largest stablecoin issuer, have not secured licenses under the current rules.

The review follows a formal feedback period and reflects concerns that the existing framework is too restrictive. The European Central Bank (ECB) and other major institutions have acknowledged that revisions are necessary to keep pace with technological advancements and international regulatory developments.