ECB and ESCB ask European Commission to scrap MiCA bank deposit rule for stablecoins
- —ESCB proposes replacing the 30% and 60% deposit thresholds with maturity-based liquidity rules
- —Overnight repos and short-term sovereign bonds are named as alternatives
- —It cites EBA's 2024 interim rules: 40% and 60% for significant stablecoins
- —Paolo Ardoino noted Tether refused an EU licence over this same clause
Why it matters: Easing the rule would reduce issuers' exposure to banks and could bring major players such as Tether back into the EU market.
Source: Cryptonaute