The European Union has begun preparing changes to its Markets in Crypto-Assets (MiCA) framework after the United States enacted the GENIUS Act. Regulators are expected to review stablecoin rules and other digital asset provisions from 2027. According to a report, European Commission officials are preparing to revisit parts of the MiCA regulation as the bloc responds to changes in the global regulatory landscape.
Regulatory Review
The review will focus on how non-EU companies issuing stablecoins should be treated under the existing framework. EU officials are also expected to consider extending MiCA to cover tokenized payments and tokenized deposits.
Background
The discussions come only days after MiCA’s licensing regime became fully operational, requiring crypto firms serving customers in the EU to obtain authorization as Crypto-Asset Service Providers.
Next Steps
The European Commission has opened a consultation on possible updates to the framework, seeking feedback on issues including decentralized finance, stablecoins, and other areas that may require additional regulation. The public comment period will remain open until August 31.
Global Implications
Developments in the United States continue to influence the discussions, with US lawmakers advancing the Digital Asset Market Clarity Act, legislation intended to establish a market structure framework for digital assets.
Supervision
European regulators are increasing supervision of companies already operating under MiCA, with the European Securities and Markets Authority announcing an examination of the operational resilience of licensed Crypto-Asset Service Providers
Based on reporting from crypto.news.
