The European Banking Authority said it plans to publish a final report by the end of this month on how it will monitor stablecoin issuers. Tether, Circle and other large stablecoin issuers will soon be subject to strict regulation by the European Union. Under the new rules, which come into effect on June 30, these companies will not only need to be properly authorised to operate within the 27-country trading zone, but will also face strict limits on the volume and value of transactions under the Crypto Asset Market (MiCA) legislation.
European Blockchain Secretary General Robert Kopitsch said the regulations mean some of the largest stablecoin issuers may not be able to operate in the European Union, including Tether and Circle.
Stablecoin rules in European Union crypto-asset market legislation to come into force on June 30
2024-06-28 05:03:38
Europe Bank Administration Bureau says plans end of the month release adesk3cryptocurrencydesktopCrypto News
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