Stablecoin giant #Circle is PUSHING BACK on Europe's crypto rules.
The $74B USDC issuer says ONLY 3 of the world's 25 biggest stablecoins are regulated under MiCA, keeping the largest ones outside Europe's regulatory reach.
It wants the EU to replace the requirement that issuers hold 30% to 60% of reserves in bank deposits with a more flexible liquidity rule, siding with the European Central Bank.
Circle also wants to scrap limits that it says would force large issuers to spread reserves across dozens of banks.
The EU is expected to overhaul MiCA in 2027
The $74B USDC issuer says ONLY 3 of the world's 25 biggest stablecoins are regulated under MiCA, keeping the largest ones outside Europe's regulatory reach.
It wants the EU to replace the requirement that issuers hold 30% to 60% of reserves in bank deposits with a more flexible liquidity rule, siding with the European Central Bank.
Circle also wants to scrap limits that it says would force large issuers to spread reserves across dozens of banks.
The EU is expected to overhaul MiCA in 2027