France proposes stronger ESMA oversight and stricter stablecoin rules in MiCA 2
- —Paris wants ESMA to supervise the largest crypto providers and multi-service groups
- —Authorities propose barring EU-licensed firms from servicing stablecoins that breach MiCA
- —The plan covers multi-issuance of stablecoins and tighter reserve and redemption guarantees
- —DeFi and staking would get proportionate rules, including protocol certification
Why it matters: The proposals could reshape European access to dollar stablecoins and DeFi services if the Commission adopts them.
Source: Cryptoast