CandleFocus EU Regulator Sees Official Journal Publication of Stablecoin Standards Before Year-End
2024-09-11
Author: Content Editor
The technical standards for stablecoin issuers, such as Tether and Circle, operating in the European Union are expected to be published in the EU's official journal by the end of the year. These standards are part of the Markets in Crypto Assets (MiCA) act, which aims to regulate the cryptocurrency industry in the EU. The European Banking Authority (EBA) has submitted 15 technical standards to the European Commission, and once approved, they will need to undergo scrutiny by the European Parliament and European Council before being officially published. The MiCA rules allowing crypto companies to serve clients in the EU with a single license came into force in June, and the remaining regulations will be in place by December.
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