European Union officials are planning to revise the Markets in Crypto-Assets Regulation (MiCA) by 2027, responding to the unauthorized status of non-EU stablecoins such as USDT and the regulatory momentum created by the U.S. GENIUS Act. Diplomats describe reopening the legislative file as "unavoidable," with the revision set to scrutinize issuance rules for foreign stablecoins. The European Commission launched a targeted consultation on May 20, later extending the deadline to September 30, to gather input from crypto issuers and regulators. The evaluation could also broaden MiCA's scope to cover tokenized deposits, payments, and other real-world asset classes. Any amending legislation would only come into force after completing the EU legislative process. This move signals a tightening of Europe's oversight framework for digital assets and a direct policy response to American stablecoin legislation. The review process will involve extensive stakeholder feedback, and the final timeline remains subject to legislative developments.
European Union officials are getting ready to revisit the Markets in Crypto-Assets Regulation (MiCA) by 2027. The point is simple: deal with the unauthorized status of non-EU stablecoins such as USDT, and answer the growing pressure created by the U.S. GENIUS Act, which has sped up stablecoin regulation across the Atlantic.
Diplomats in the talks say reopening the legislative file is "unavoidable." That rewrite is expected to look at rules for foreign stablecoin issuers and could make the conditions tougher for how those tokens operate inside the EU. The European Commission has already opened a targeted consultation on May 20, and the deadline was pushed to September 30, so crypto issuers, regulators, and other stakeholders can send in comments.
The review could also widen MiCA's scope. Tokenized deposits. Payments. Other real-world asset classes too. But any change to the regulation would still need approval through the EU's standard legislative procedure before it could take effect. All this is happening as EU policymakers try to balance innovation against financial stability and consumer protection, while reacting to regulatory changes in other major jurisdictions like the United States.
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