EU Eyes Stablecoin Overhaul Amid US Regulatory Pressure

The European Union is considering changes to its Markets in Crypto-Assets framework, or MiCA, in response to US stablecoin legislation.

The main proposal would extend MiCA rules to stablecoins issued by companies based outside the EU and include provisions on tokenized payments and deposits.

A review of the relevant rules is scheduled for 2027, and a concrete legislative measure is unlikely before 2028, according to Miroslav Duric, a senior research associate at law firm Taylor Wessing.