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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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.

Under the EU’s Markets in Crypto-Assets (MiCA) regulation, stablecoin issuers are currently required to maintain most of their reserves in EU-based banks and ensure euro-denominated redemption rights.