European Banking Authority: Plans to publish a final report on how to monitor stablecoin issuers at the end of this month

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Odaily2024/06/28 05:19

By:Odaily

Odaily News The European Banking Authority said it plans to publish a final report on how to monitor stablecoin issuers at the end of this month. Tether, Circle and other large stablecoin issuers will soon be subject to strict regulation by the European Union. Under the new rules that come into effect on June 30, these companies will not only need to obtain proper authorization to operate in the 27-nation trade zone, but will also face strict limits on the number and value of transactions under the Markets in Crypto-Assets (MiCA) legislation. Robert Kopitsch, secretary general of Blockchain Europe, said the regulations mean that some of the largest stablecoin issuers may not be able to operate in the EU, including Tether and Circle. (CoinDesk)

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