Europe is catching up on stablecoin usage after the initial MiCA shock
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最新报道：Europe is making significant strides in regulating stablecoins with the upcoming Markets in Crypto-Assets (MiCA) framework, set to take effect in mid-2024. The European Banking Authority (EBA) recently published draft technical standards outlining requirements for stablecoin issuers, including governance, liquidity management, and reserve asset rules. Under MiCA, stablecoin issuers must hold reserves in highly liquid assets with minimal exposure to fluctuations, ensuring 1:1 redeemability. The EBA also mandates robust risk management, conflict-of-interest policies, and detailed public disclosures. Notably, the rules apply to both EU-based and non-EU issuers targeting European users, requiring the latter to establish an EU entity. While the regulations aim to protect consumers and maintain financial stability, some industry players express concerns about compliance costs potentially stifling innovation. The finalized standards will undergo review before implementation.
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