Under EU rules, stablecoins issued within the bloc must keep most of their reserves in a bank based in the bloc, while holders can redeem their coins for cash directly from the issuer.
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Brussels set to disregard ECB warnings over stablecoin rules
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Markets in Crypto-Assets regulation (MiCA) requires EU-issued stablecoin issuers to hold most reserves in EU-based banks and offer direct redemption rights in euros as of June 2025.
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