Circle is calling for changes to the European Union’s Markets in Crypto-Assets regulation, or MiCA, after one of its policy executives said only a small share of the world’s largest stablecoins currently meet the bloc’s requirements. Patrick Hansen, Circle’s director of EU strategy and policy, said that just three of the top 30 stablecoins globally are compliant with MiCA. He also said the company has asked EU policymakers to adjust parts of the framework so that it can cover a broader range of mainstream stablecoins. The update was carried by Techub News, which cited CoinGape. No further details on the specific provisions Circle wants changed were disclosed in the source material.
Circle has called on European Union policymakers to revise parts of the Markets in Crypto-Assets regulation, or MiCA, saying the current framework covers only a limited portion of the stablecoin market.
Patrick Hansen, Circle’s director of EU strategy and policy, said only three of the world’s top 30 stablecoins currently meet MiCA requirements.
According to the report, Circle has asked policymakers in the EU to adjust some of MiCA’s provisions to broaden coverage for mainstream stablecoins.
The update was reported by Techub News, citing CoinGape.
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