🇪🇺 Circle Calls for Changes to MiCA Rules for Stablecoins in Europe
Circle, issuer of $USDC, argues that the European Union needs to loosen the requirements of the MiCA regulation.
📌 Key Points:
* Coverage Failure: Only 3 of the 25 largest stablecoins in the world are currently regulated by MiCA, showing that the European model fails to attract the biggest global tokens into its regulatory perimeter.
* Reserves at Banks: The company asks the EU to reconsider the rule requiring 30% to 60% of reserves to be held in commercial bank deposits.
* Concentration Limits: They call for the removal of restrictions that force large issuers to operate with dozens of banks at the same time.
* New Approach: Circle proposes a more flexible regulatory model focused on the liquidity of assets.
#Stablecoins #BinanceSquare
Circle, issuer of $USDC, argues that the European Union needs to loosen the requirements of the MiCA regulation.
📌 Key Points:
* Coverage Failure: Only 3 of the 25 largest stablecoins in the world are currently regulated by MiCA, showing that the European model fails to attract the biggest global tokens into its regulatory perimeter.
* Reserves at Banks: The company asks the EU to reconsider the rule requiring 30% to 60% of reserves to be held in commercial bank deposits.
* Concentration Limits: They call for the removal of restrictions that force large issuers to operate with dozens of banks at the same time.
* New Approach: Circle proposes a more flexible regulatory model focused on the liquidity of assets.
#Stablecoins #BinanceSquare
