Circle Urges EU to Drop Fixed Bank Deposit Rules in MiCA Review
Circle has called on the European Union to remove fixed bank deposit rules for stablecoin reserves during the Markets in Crypto-Assets regulation review.
Stablecoin issuer Circle has formally urged the European Union to eliminate fixed bank deposit rules governing stablecoin reserves as part of the ongoing Markets in Crypto-Assets (MiCA) regulatory review, according to Pluang.
Regulatory Review
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The company's push focuses on altering specific reserve mandates currently imposed on digital asset issuers operating within the European bloc. The MiCA framework, which establishes comprehensive rules for crypto-assets across member states, is facing scrutiny regarding how stablecoin reserves must be held in traditional banking institutions.
Key facts
- Actor: Circle urged the European Union.
- Objective: Drop fixed bank deposit rules for stablecoin reserves.
- Context: The request is part of the ongoing MiCA regulatory review.
Source: news.google.com
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