Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
MiCA Brings Clarity, But Stablecoin Limits Need Improvement

MiCA Brings Clarity, But Stablecoin Limits Need Improvement

Bitget2024/07/03 22:48
USDC+0.01%BUSD0.00%

Jason Allegrante, chief legal and compliance officer at Fireblocks, posted that the European Union's Regulation on Markets for Crypto Assets (MiCA), set to be implemented this summer, is an important milestone for the crypto industry. While MiCA wisely excludes decentralized smart contracts and NFTs, there are issues with issuance and trading limits for stablecoins such as USDT, USDC and BUSD. The current limit of 1 million transactions or €200 million is far from sufficient to support the current level of activity. The total global market capitalization of stablecoins amounts to $162 billion, 75% of which is USDT, USDC, and BUSD.These EU restrictions could lead to significant disruptions in the crypto ecosystem, especially in non-speculative use cases.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Altcoin season index drops to 69
金色财经2025/09/14 22:51

Trending news

More
1
Messari: Bitcoin's current average daily transaction fee revenue is less than $500,000, hitting a multi-year low
2
Altcoin season index drops to 69

Crypto prices

More
Bitcoin
Bitcoin
BTC
$115,165.84
-0.71%
Ethereum
Ethereum
ETH
$4,605.44
-1.41%
XRP
XRP
XRP
$3.03
-2.75%
Tether USDt
Tether USDt
USDT
$1
+0.02%
Solana
Solana
SOL
$240.7
-0.86%
BNB
BNB
BNB
$926.73
-0.78%
USDC
USDC
USDC
$0.9999
+0.02%
Dogecoin
Dogecoin
DOGE
$0.2787
-3.51%
TRON
TRON
TRX
$0.3488
-0.29%
Cardano
Cardano
ADA
$0.8883
-4.45%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter