EU Industry Input 'Really Important' to Stablecoin Rulemaking Under MiCA, EBA Officials Say
Summary
The European Union's banking regulator held a public hearing to discuss operational guidelines for stablecoin issuers under the upcoming Markets in Crypto Assets (MiCA) framework. The EU finalized the first comprehensive framework for crypto regulation in 2023, which will take full effect in December. The European Banking Authority (EBA) is responsible for creating a single rulebook under MiCA for stablecoin issuers. The hearing covered EBA proposals for guidelines on internal governance of stablecoin issuing companies, management requirements, compliance, remuneration, and disclosures for conflicts of interest. The EBA plans to host similar hearings and will use feedback from these consultations to finalize its rulebook.
