EU plans to revise the MiCA framework to focus on non-EU stable currency issuer access rules

On 8 August, Bitcoin.com News reported that the European Union had decided to revise the MiCA framework to address the problem of the blocking of EU markets by non-EU stable currency distributors such as Tether. The introduction of the United States GENIUS Act and the positive push of the Trump Government to stabilize the currency also accelerated this decision. Patrick Hansen, EU policy director, previously warned that the current MiCA system had significant regulatory gaps, leaving European users “unprotected or disconnected”. In addition, the EU is considering the inclusion of new and emerging technologies such as monetization payments and deposits. An EU diplomat said that “re-opening the document was inevitable at this stage” and noted that the MiCA framework had been approved in May 2023 and that many of its provisions were lagging behind the reality of industry development。