Stable coins: European banking supervisory authority demands voluntary guidelines before the Mica regulation comes into force

Von Krypto News Österreich

Die Europäische Bankenaufsichtsbehörde (EBA) hat Stablecoin-Emittenten dazu aufgerufen, freiwillige Leitprinzipien zu befolgen. Diese Leitprinzipien sollen die Risiken im Kryptowährungsbereich reduzieren und den Verbraucherschutz optimieren. Sie dienen als Normen, um den Übergang zur MiCA-Verordnung, die im Jahr 2024 in Kraft tritt, zu erleichtern. Die EBA veröffentlichte ein Regelwerk, das zusätzliche regulatorische Klarheit für die MiCA-Anforderungen von Stablecoins schaffen soll. Vor der Einführung der MiCA-Verordnung regelten bereits die EU-Geldwäschegesetze einige Anforderungen für Stablecoin-Anbieter. Da das MiCA-Regelwerk genehmigt wurde, erwartet die EBA einen Anstieg der Stablecoin-Emissionen. Sie fordert Unternehmen daher auf, sich an die Leitprinzipien für gute Unternehmensführung und Risikomanagement zu halten, bevor …
The European Banking Supervisory Authority (EBA) has called on StableCoin emitters to follow voluntary leading principles. These guiding principles are intended to reduce the risks in the cryptocurrency area and optimize consumer protection. They serve as norms to facilitate the transition to the Mica Ordinance, which will come into force in 2024. The EBA published a set of rules that is supposed to create additional regulatory clarity for the mica requirements of stable coins. Before the MICA regulation was introduced, the EU money laundry laws already regulated some requirements for stablecoin providers. Since the mica regulation has been approved, the EBA expects to increase stable coin emissions. It therefore asks companies to adhere to the guiding principles for good corporate management and risk management before ... (Symbolbild/KNAT)

The European Banking Supervisory Authority (EBA) has called on StableCoin emitters to follow voluntary guiding principles. These guiding principles are intended to reduce the risks in the cryptocurrency area and optimize consumer protection. They serve as norms to facilitate the transition to the Mica Ordinance, which will come into force in 2024. The EBA published a set of rules that is supposed to create additional regulatory clarity for the mica requirements of stable coins. Before the MICA regulation was introduced, the EU money laundry laws already regulated some requirements for stablecoin providers.

Since the mica regulation has been approved, EBA expects an increase in stable coin emissions. It therefore urges companies to adhere to the guiding principles for good corporate management and risk management before the Mica regulation comes into force. The EBA emphasizes that these measures serve to reduce the risks of business model adjustments, to promote the supervisory convergence and to improve consumer protection.

In October, EBA will publish another series of guiding principles. These guiding principles will deal with the capital requirement of stable coin emitters and the question of how companies should deal with stable coin returns in volatile markets.

The regulatory authorities are still confronted with difficulties due to the increasing use of stable coins. Nevertheless, crypto regulation is progressing worldwide. For example, the state of New York recently introduced new legislation that would allow fiat-secured stable coins to be used as deposits. The Hong Kong government has also introduced a licensing system for Virtual Asset Service Providers (VASP) and could now also concentrate on the regulation of StableCoin emitters.

Please note that the article aims at transparent and impartial reporting. Readers are encouraged to independently check the facts and consult experts before making decisions based on this information.