EU to Revise MiCA for Foreign Stablecoin Issuers

The EU plans to revise MiCA regulations to include foreign stablecoin issuers by 2027, amid concerns over dollar-pegged stablecoins and monetary sovereignty.

The European Union is preparing a potential revision of the MiCA crypto regulation to extend oversight to foreign stablecoin issuers operating in Europe, according to Euronews, citing EU diplomats. A formal update to the rules is not expected before 2027.

Currently, MiCA does not directly cover such market participants. The European Commission is collecting feedback until September 30, after which it will decide whether to initiate a revision of the regulation. Reasons for the discussion include the rise of dollar-pegged stablecoins, the passage of the GENIUS Act in the U.S., and concerns from the ECB regarding the monetary sovereignty of the euro.