EU Eyes MiCA Overhaul Amid Global Stablecoin Regulatory Shifts
The European Union is set to review its Markets in Crypto-Assets Regulation (MiCA), which aims to allow non-EU stablecoin issuers to operate more freely within the bloc.
The review comes after feedback from industry stakeholders and amid pressure from evolving global crypto policies, including U.S. legislation like the GENIUS Act.
MiCA established a comprehensive regulatory framework for crypto assets in the EU, but its stringent requirements for stablecoin issuers have limited market access. Companies like Tether have not secured licenses under the current rules, reducing options for European users.
The EU's decision to review the regulation 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.