Stablecoin issuers in Europe advised to start complying before 2024
As a proactive measure in anticipation of mandatory regulations due to be enforced in 2024, the European Union’s banking overseer has prompted stablecoin issuers to voluntarily adhere to “guiding principles” concerning risk management and consumer protection. On July 12, the European Banking Authority (EBA) unveiled its maiden collection of measures designed for public evaluation, aiming to demystify the Markets in Crypto-Assets regulation (MiCA) prerequisites for launching a stablecoin which is slated to come into effect on June 30, 2024. Key points within these measures encompass enduring redemption rights and complaint-handling guidelines. European #Banking Authority encourages timely preparatory steps towards the application of #MiCAR to asset-referenced and electronic money tokens | European Banking Authority https://t.co/ZyN3fCK8DD #stablecoins #cryptoassets — Mehmet Kerse (@m_kerse) July 12, 2023 In May, the Economic and Financial Affairs Council...