The European Union has started preparing changes to its Markets in Crypto-Assets Regulation (MiCA) as stablecoins expand across global markets. Policymakers want stronger oversight for crypto issuers based outside the bloc. They also aim to update the framework for emerging payment technologies. The review follows rapid stablecoin adoption and changing international regulations.
Consequently, EU officials believe existing rules no longer address the growing cross-border nature of digital assets. The European Commission will collect industry feedback until September 30 before deciding the next legislative steps.
Stablecoins Push Regulatory Review
EU officials want MiCA to address stablecoins issued by companies outside Europe. Currently, the regulation lacks specific rules for many foreign issuers serving European users. Moreover, stablecoin activity continues accelerating worldwide.
Artemis Analytics reported transaction volumes climbed 72% during 2025, reaching $33 trillion, or €28 trillion. Meanwhile, the United States introduced the GENIUS Act, creating a dedicated framework for stablecoins. Since roughly 95% of stablecoins track the US dollar, Europe wants greater regulatory clarity.
Tokenization Expands Policy Priorities
Additionally, EU policymakers plan to examine tokenized payments and digital deposits within the revised framework. These technologies could reshape payment infrastructure over the coming years.
Besides, the European Central Bank continues developing its Pontes and Appia projects to support tokenization and distributed ledger technology. Hence, lawmakers expect updated rules to improve innovation while strengthening financial oversight across the European digital asset market.
Related: Kenya’s CMA to Deploy Blockchain Surveillance for Crypto Oversight
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