Circle Urges EU to Rework MiCA Stablecoin Reserve Rules
- —Only three of the top 25 stablecoins globally are MiCA-regulated: USDC, USDG and EURC
- —MiCA mandates 30% of reserves in bank deposits, rising to 60% for significant issuers
- —Circle wants that replaced with a less rigid minimum asset liquidity requirement
- —It also seeks removal of EBA caps: 35% single-sovereign and 1.5% per banking counterparty
Why it matters: Looser reserve rules would cut issuer costs and ease access for global stablecoins to the EU market.
Source: The Crypto Times