EC, in response to the ECB paper on the effects of U.S. stable‑coin legislation, according to Politico, presented its own paper suggesting that MiCA has effective safeguards, even taking into account the planned U.S. stablecoin regulations, to handle global stable‑coin risks and also that risks seem to be overstated

Event date

Apr 14, 2025 - 12:00am

Quotes that support claims

The report, citing two diplomats and one EU official, said that the existing MiCA framework is robust enough to manage stablecoin risks despite potential US policies like the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) and the Guiding and Establishing National Innovation for US Stablecoins (GENIUS), two bills aimed at expanding America’s crypto footprint.

In its own paper, also seen by POLITICO, the Commission forcefully defended the effectiveness of the rules, even taking into account the planned U.S. reforms, hinting that the central bank was being melodramatic. “The risks arising from such global stablecoins seem to be overstated and are manageable under the existing legal framework,” the Commission said in the document.