MiCa requirements for stablecoins

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MiCA requires stablecoin to be fully backed by their reference asset

MiCA establishes that algorithmic coins do not meet reserve requirements and therefore can only be marketed as “unbacked” crypto assets, without claiming their value is pegged to an official currency

MiCA requires stablecoin issuers to register with supervisory authorities within EU

MiCA requires to have and to hold in several EU banks 30% of reserves in cash for stablecoin issuers and 60% of reserves in cash for significant e-money tokens

MiCA states that non-euro backed stablecoins are subject to volume caps of €200 million per day or 1 million transactions when used as a means of exchange

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