Circle Urges MiCA Flexibility on Stablecoin Reserves

VERA Brief

AI-generated. Grounded in the article and its cited sources.

Circle has told the European Commission that current MiCA regulations exclude major global stablecoins from Europe. The company's stance aligns with the European Central Bank's request for more adaptable rules.

Key facts

• Circle has expressed concerns to the European Commission about MiCA regulations.
• MiCA's rules on bank deposits for reserves and concentration limits prevent major global stablecoins from operating in the EU.
• Circle's position is consistent with recommendations from the European Central Bank for more flexible rules.
• The current MiCA structure may limit the accessibility and integration of significant stablecoin assets within the EU market.