EU Officials Set to Revise MiCA Framework Amid US Stablecoin Law

European Union officials are planning to revise the Markets in Crypto-Assets (MiCA) framework in response to a US law on stablecoins. The proposed changes aim to broaden the framework's scope and clarify how non-EU companies issuing stablecoins can be regulated in member states.

The revision, dubbed 'MiCA 2.0,' comes after the US government passed the GENIUS Act, which puts pressure on EU officials to address the regulation of US stablecoin issuers. The revised rules will reportedly consider expanding MiCA to include rules on tokenized payments and deposits.

Under current regulations, crypto companies offering services to EU-based users must be licensed as Crypto-Asset Service Providers (CASPs) by a regulator in one of the member states. The proposed framework remains open for comments until August 31, but it's unlikely that any concrete legislative proposals will be adopted before 2028.