Euro stablecoin market surges under MiCA

The European Union’s Markets in Crypto-Assets Regulation (MiCA) framework is gradually coming into effect in line with its planned implementation timeline. The initial set of regulations, which took effect on July 1, focused on stablecoins and their issuers.
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 The implementation of the Markets in Crypto-Assets (MiCA) regulation in the European Union has had a significant impact on the euro stablecoin market. MiCA, which came into force on June 30, 2024, has introduced new transparency and compliance standards for stablecoins across all 27 EU member countries