Stablecoins take center stage in the debate over the MiCA review
The consultation to review Europe's MiCA regulation closed on September 30, with stablecoins topping the list of issues to examine. The EBA and the ECB are calling for a review of multi-issuer schemes from third countries and of issuers' liquidity requirements; the ECB proposes replacing the fixed deposit requirement of between 30% and 60% with liquidity-based rules. Euro-denominated stablecoins doubled their volume over the past year to about $850 million, compared with more than $300 billion for dollar-denominated ones.
In 45 seconds
- The MiCA review centers its debate on stablecoins, with the EBA and ECB calling for a review of multi-issuer schemes from third countries and liquidity requirements.
- The ECB proposes replacing the fixed deposit requirement (30%-60%) with rules based on how quickly and safely assets can be converted into cash.
- Euro-denominated stablecoins reach about $850 million after doubling in a year, far from the more than $300 billion in dollar-denominated ones.
Read the full story at Expansión
IASummary generated by artificial intelligence from a story by Expansión. It may contain errors: the original source prevails.
Comments
Be respectful. Comments reported by several people are hidden until a moderator reviews them.
You do not need an account to read, only to comment. Sign in with a code sent to your email or with your Google account. We only show the name you choose, never your email.