Industry Group Calls For MiCA Reforms To Boost Euro Stablecoins
Blockchain for Europe has called for targeted reforms to the European Union’s (EU) landmark crypto framework in a new report, seeking to boost the global competitiveness of Euro-denominated stablecoins. Related Reading: Here’s What Happened In The Donald Trump Crypto Meeting With $TRUMP Holders Euro Stablecoins On The ‘Regulatory Laffer Curve’ Downside On Monday, Blockchain for […]
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As market dynamics evolve and pressure builds to strengthen Europe’s position in the global crypto economy, the European Commission (EC) has launched a review of its landmark crypto framework to keep pace with the evolving digital asset landscape. Related Reading: XRP ‘Under Heavy Resistance’ After Key $1.50 Rejection – Is A Drop To $1 Next? EC Opens Review Of EU Crypto Rules On Wednesday, the European Commission launched a consultation on the functioning of the European Union’s (EU) regulatory framework on crypto assets, the Markets in Crypto‑Assets Regulation (MiCA). The regulator is....
The U.S. company Circle is launching a regulated stablecoin that is pegged to the euro, but what does this mean for the eurozone? The market capitalization of Tether (USDT), a United States dollar-pegged stablecoin, is currently over $65 billion. USD Coin (USDC), another stablecoin backed by the U.S. dollar, clocks in near $55 billion. Some reports estimate that the total market cap of dollar-backed stablecoins is over $160 billion.Despite this success of dollar-based stablecoins, there has not been a euro stablecoin that is even remotely comparable in size. By the end of June, the....
The Markets in Crypto-Assets framework stands to get in the way of Circle's Euro Coin and other digital assets. Policymakers should revise the proposal. The digital asset landscape in the European Union is evolving ahead of the passage of the Markets in Crypto-Assets (MiCA) regulation framework that aims to instill regulatory clarity around crypto assets. While well-intentioned, the current structure of MiCA may throttle innovation. But if a revised version of this policy passes, it could see the European Union become one of the leaders in the digital payment space. If not, then there is a....
France’s Finance Minister Roland Lescure has called for the development of more Euro-pegged stablecoins. This comes amid rising tensions between the European Union and the US, as the EU seeks to weaken US dominance over its payment systems. Related Reading: Crypto Shockwave: Circle Sued As $280 Million Drift Hack Unravels Euro-Stablecoins: Europe’s Push For Financial […]
To become a global digital leader, Europe needs a diverse and competitive digital ecosystem. Europe knows it will have to embrace a digital euro soon. To become a global digital leader and avoid dependence on American and Asian technological infrastructures, European policymakers and regulators have to make progressive decisions.A critical stumbling block for Europe’s digital economic thinking is so-called stablecoins. Stablecoins can be privately issued and have the potential to become globally accepted and systemically relevant, disrupting long-established financial systems.....