The European Union (EU) financial regulators want to add more stablecoin regulation guidelines under the Markets in Crypto Asset (MiCA) regulatory framework.
EU Stablecoin Regulation Sees MiCA Law Update
According to a document from the European Banking Authority (EBA), regulators have presented a draft of technical standards for stablecoins that reference multiple currencies or assets. This stablecoin regulation is a result of the collaborative effort between the EBA and the EU’s markets regulator ESMA. They both consulted on stablecoin education from July 2023 till October.
Beyond stablecoin regulation, both entities have been working together to establish more rules under MiCA in the form of Regulatory Technical Standards (RTS). The Wednesday publication of RTS is only one out of the numerous rules expected from the regulators in the runup to MiCA’s full implementation.
The current RTS outlines procedures for the “prompt, fair, and consistent handling of complaints by holder
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