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, according to a recent report. This revision aims to broaden the scope of MiCA, specifically regarding non-EU companies issuing stablecoins.

The move comes in response to the US government's GENIUS Act, which puts pressure on EU officials to clarify how US stablecoin issuers can be regulated within member states. The revised rules will reportedly consider expanding MiCA to include regulations on tokenized payments and deposits.

Under current MiCA rules, crypto companies offering services to EU-based users across 27 member states must obtain a license as Crypto-Asset Service Providers (CASPs) from a regulator in one of the member states. Although the licensing requirement took effect on July 1, European Commission officials have opened a comment period for potentially revising the framework.

The proposed framework will remain open for comments until August 31. However, Miroslav Durić, a senior associate at Taylor Wessing, told Cointelegraph in June that it was unlikely any concrete legislative proposals would be adopted before 2028.