Circle Urges EU to Loosen MiCA Reserve Rules for Stablecoins
The USDC issuer told the European Commission that MiCA's bank-deposit mandates and concentration caps push the largest global stablecoins outside Europe.
AfroEuropa Newsroom
AfroEuropa desk
Circle, the company behind the USDC stablecoin, has asked the European Union to revise the reserve requirements set out under its Markets in Crypto-Assets (MiCA) framework, according to reporting from Decrypt and Cointelegraph.
In submissions to the European Commission as part of a MiCA review, Circle argued that the current reserve mandates and concentration caps have the effect of keeping the world's largest stablecoins outside the European regulatory perimeter, Decrypt reported. The company aligned itself with the European Central Bank in calling for greater flexibility in the rules.
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