EU Prepares MiCA Overhaul To Address Non-EU Stablecoins And Emerging Technologies
In Brief
EU set to revise MiCA to regulate non-EU stablecoin issuers and expand coverage to emerging tokenised payment technologies.
The European Union is preparing to revise its Markets in Crypto-Assets Regulation (MiCA) in response to the growing presence of non-EU crypto issuers and recent regulatory shifts in the United States.
Multiple EU diplomats familiar with the discussions confirmed to Euronews that the framework will be revisited to address issuances from outside the bloc and to incorporate emerging technologies. The European Commission is currently consulting stakeholders until 30 September, though lawmakers already regard a legislative review as inevitable.
“Reopening the file seems unavoidable at this stage, not only in light of the position expressed by several European institutions (not least the ECB), but also to cater for the most recent regulatory and technological developments worldwide,” one diplomat stated.
The revision comes amid mounting pressure to clarify how non-EU companies issuing stablecoins—cryptocurrencies pegged to real-world assets such as the US dollar—should operate within the European market. The existing MiCA framework does not specifically regulate such issuers, creating a regulatory gap as these assets gain prominence.
Stablecoins function outside traditional banking rules, and a single stablecoin can be issued by multiple entities, further complicating oversight. Their significance has grown substantially: total transaction volumes surged by 72% in 2025 to reach $33 trillion, according to data from Artemis Analytics.
US Policy and the Tokenisation Frontier
The urgency of the review has been amplified by US President Donald Trump’s embrace of stablecoin regulation. In 2025, Trump signed the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act into law, establishing a federal framework for these assets.
With approximately 95% of stablecoins backed by the US dollar, the legislation is widely seen as an effort to reinforce the dollar’s global position through digital infrastructure, positioning stablecoins as instruments for international and strategically important transactions.
Beyond stablecoins, the EU review is expected to expand MiCA’s scope to encompass tokenised means of payment and deposits—technologies designed to enhance transaction security and reduce fraud. In parallel, the European Central Bank has advanced its own digital payments strategy, unveiled in late March, which includes the development of two network infrastructures named Pontes and Appia.
These systems are intended to adapt the central bank to tokenisation and distributed ledger technology, signalling that both legislative and institutional frameworks are moving in concert to address the next phase of digital finance.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
