EU’s MiCA legislation could bolster Euro-backed stablecoins adoption
Share link:In this post: Cryptocurrency exchanges are reviewing their stablecoin offerings ahead of the launch of the EU’s Markets in Crypto-Assets (MiCA) regulation. Euro-backed stablecoins have recently seen their market volumes surge to an all-time high. The global stablecoin market is also growing as investors enter crypto amid various economic issues.Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provid
The European Union (EU) stablecoin market is set for a massive boost with the Markets in Crypto Assets (MiCA) regulation going into effect by the end of June. According to a new report from Kaiko Research, the soon-to-be-launched MiCA guideline will provide regulatory clarity to stablecoins and consequently boost their adoptions in the European Union.
Also read: Crypto executive warns MiCA regulation will stifle EU crypto companies competitiveness
Per the report , several exchanges, such as Binance , Kraken, etc., are reviewing their stablecoin offerings to comply with the MiCA regulation. This review may lead to the potential delisting of some stablecoins that do not meet the MiCA standards. However, it could also allow Euro-pegged stablecoins to thrive.
Euro stablecoins on the rise
The arrival of MiCA could finally allow Euro-pegged to see significant growth. These coins have also seen a noticeable increase in market cap for Euro stablecoins. Since the beginning of the year, top Euro-pegged stablecoins have consistently seen a combined $40 million weekly volume. These include assets like Tether’s EURT, Stasis’ EURS, Société Générale’s EURCV, Anchored’s AEUR, and Circle’s EURCV. AEUR launched on Binance last year and accounts for over 50% of the volume.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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