Circle and public urge EU to ease MiCA stablecoin rules

4.1 Stablecoins

Oct 2, 2026

Circle and the public urge the EU to revise MiCA stablecoin rules, ease reserve requirements, and allow rewards, reflecting strong support for regulatory changes.

Circle has urged the EU to revise MiCA stablecoin regulations, noting that only three of the top 30 global stablecoins—USDC, USDG, and EURC—currently meet MiCA compliance. The company advocates for maintaining multi-issuance, enabling both EU-authorized and foreign-regulated entities to issue stablecoins. Circle also calls for more flexible liquidity requirements, rather than strict bank deposit thresholds. Meanwhile, the Stand With Crypto EU campaign has collected over 50,000 signatures, urging the European Commission to relax MiCA's ban on stablecoin rewards. Supporters argue that the current rules disadvantage stablecoins compared to traditional bank products. The campaign's strong response surpasses previous consultations, highlighting significant public interest in stablecoin incentives. European central banks are also seeking broader MiCA reforms. The ongoing debate centers on balancing consumer benefits with financial stability, and the outcome could have a major impact on the competitiveness and adoption of stablecoins in the EU.