EU: Stablecoin Standards to Become Official This Year

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By the end of the year, the European Banking Authority (EBA) will officially release standards for stablecoin issuers like Tether and Circle to operate in the European Union.

These standards are part of the 15 technical standards submitted by the EBA, which were developed in collaboration with the European Securities and Markets Authority (ESMA) and presented to the European Commission for review.

These rules are a part of the MiCA regulation, which allows cryptocurrency companies to serve clients across the 27 EU member states with a single license.

While the stablecoin rules have already been implemented, the rest of the MiCA regulation will be put in place by December.

The commission is currently reviewing the standards and will make a decision on whether to adopt them as they are or request changes.