The European Union is reported to be considering revising its crypto regulatory framework, MiCA, to broaden its reach to cover stablecoins issued by non-EU companies.
Cointelegraph reported on Tuesday that the discussion is meant to clarify regulatory standards for U.S.-issued stablecoins within member states after U.S. stablecoin legislation was enacted.
EU authorities are considering expanding MiCA to include stablecoins issued by non-EU firms. They are also discussing adding MiCA rules related to tokenised payments and deposits.
Authorities are reported to plan to review the amendments in 2027. The re-examination is tied to the U.S. GENIUS Act. As the United States moves to put its stablecoin system in order, the EU has faced a growing need to define how it will regulate U.S.-issued stablecoins in the bloc.
Under MiCA, crypto companies providing services to users in the EU's 27 member states must obtain authorisation as a crypto-asset service provider, or CASP, from one member state's regulator.
The European Commission has already begun gathering opinions on the possibility of revising MiCA, including provisions on decentralised finance and stablecoins.
Chi-gyu Hwang (황치규)
delight@d-today.co.kr