TechFlow news, according to Cointelegraph, the European Union's Markets in Crypto-Assets (MiCA) regulations regarding stablecoins will take effect on June 30. The rules prohibit stablecoins from processing more than one million transactions per day or exceeding a total value of 200 million euros (approximately $215 million). Major stablecoin issuers such as Tether and Circle must obtain relevant authorization to operate within the EU. Under the regulations, stablecoins not denominated in euros will be banned from issuance and use if they exceed specific thresholds.
The stablecoin rules will take effect by the end of this month, with other MiCA provisions expected to become effective in December. A spokesperson for the European Banking Authority (EBA) stated that the transaction caps are designed to "protect the monetary system." The rules do not prevent companies from issuing stablecoins backed by non-euro assets, but the key factor is whether they are used as a means of exchange for paying goods or services—if so, the specific transaction limits apply. The EBA is expected to release a final report before the end of the month detailing how compliance by stablecoin issuers will be monitored. Tether and Circle are actively seeking electronic money licenses to continue operating legally in the EU.
