EU Set to Revise MiCA in 2027 to Cover Foreign Stablecoin Issuers
DECRYPT ·
The EU is preparing to reopen its Markets in Crypto-Assets (MiCA) rulebook, likely in 2027, to regulate non-EU stablecoin issuers and broaden its scope, EU diplomats told Euronews. The push follows the U.S. GENIUS Act and President Trump's promotion of dollar-backed stablecoins, which make up 95% of the market. The European Commission is consulting stakeholders until September 30 before deciding whether to formally reopen the law. The European Union is preparing to reopen its flagship crypto rulebook to bring non-EU stablecoin issuers under its supervision, as U.S. President Donald Trump's embrace of dollar-pegged tokens unsettles European regulators, Euronews reported , citing several EU diplomats. MiCA , the bloc's landmark crypto framework, only fully came into force on July 1, but officials already see a rewrite as inevitable. "Reopening the file seems unavoidable at this stage," one diplomat told Euronews , citing pressure from European institutions, especially the ECB, and fast-moving regulatory and technological developments abroad.
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