EU considers MiCA amendment to regulate overseas stablecoin issuers

The European Union is preparing to amend its Markets in Crypto-Assets (MiCA) regulation to cover overseas stablecoin issuers, a move seen as a response to U.S. support for dollar-pegged stablecoins, Decrypt reported. The MiCA legislation came into full effect on July 1, with the re-amendment process expected to begin in 2027. Currently, the law does not directly regulate stablecoin issuers headquartered abroad whose tokens circulate within Europe. The European Central Bank (ECB) has previously warned that dollar-pegged stablecoins could undermine the monetary sovereignty of the euro. The European Commission will gather industry feedback until Sept. 30 before deciding whether to proceed with a formal amendment.