A closer look at “Circle Urges EU to Rethink MiCA Bank-Deposit Rules for Stablecoins Like USDC”, exactly as the source publishes it. Circle, the issuer of the USDC stablecoin, is pushing back against key provisions of the European Union’s Markets in Crypto-Assets (MiCA) regulation, arguing that strict bank-deposit mandates and concentration limits effectively exclude major global stablecoins from the European market. In feedback to the European Commission, Circle said the rules create barriers that keep dominant stablecoins like USDC outside Europe’s regulatory perimeter, aligning with the European Central Bank’s call for more flexible reserve requirements.
The company contends that MiCA’s requirement to hold a large share of reserves in bank deposits, along with caps on single-bank exposure, is impractical for stablecoins with tens of billions in circulation. Circle’s intervention highlights a growing tension between EU policymakers seeking to safeguard financial stability and global crypto firms warning that overly rigid rules could fragment the market. The full version stays on the original page, which this listing opens directly.