Circle’s Senior Director of EU Strategy and Policy, Patrick Hansen, noted that since MiCA’s implementation, 35 electronic money tokens from 21 institutions have been certified, but only three of the world’s top 50 stablecoins meet the requirements. Patrick Hansen recommended introducing a mechanism to recognize foreign tokens to attract global issuers into the regulatory framework.
Patrick Hansen: MiCA Stablecoin Regulation Lacks Coverage; Cross-Border Token Recognition Needed
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Summary
Patrick Hansen, Senior Director of EU Strategy and Policy at Circle, said the MiCA (EU Markets in Crypto-Assets Regulation) stablecoin rules remain incomplete. While 35 e-money tokens from 21 institutions have been certified, only three of the top 50 global stablecoins meet the criteria. He called for a cross-border token recognition mechanism to bring more global stablecoins into the MiCA framework.
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