50,000-Signature Campaign and Circle Push EU to Loosen MiCA Stablecoin Rules in Review
The European Union’s review of its Markets in Crypto-Assets (MiCA) framework is drawing pressure from multiple directions, according to Cointelegraph, The Block, and The Defiant.
- A campaign backed by 50,000 letters is urging Brussels to ease MiCA’s restrictions on stablecoin rewards, according to Cointelegraph.
- Circle has filed comments with the European Commission asking it to replace MiCA’s mandatory bank-deposit minimums for stablecoin reserves with more flexible liquidity rules, according to Cointelegraph and The Block.
- Circle also wants the EU to preserve cross-border stablecoin issuance and create a recognition route for foreign stablecoins, according to The Defiant.
- Hyperliquid’s policy group is separately pushing to have perpetual futures regulated under MiFID II rather than MiCA, according to The Block.
- EU central banks are pushing in the other direction, seeking broader changes to MiCA’s stablecoin rules and stronger safeguards, according to Cointelegraph and The Defiant.
The competing filings show industry players and the public campaign favoring looser reserve and rewards rules, while central banks within the EU are pressing for tighter oversight as the bloc’s MiCA review proceeds.
Sources: Cointelegraph, The Block, The Defiant
This article is for information only and is not financial advice.
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