Circle Internet Financial, one of the largest stablecoin issuers, has raised concerns that the European Union’s new MiCA (Markets in Crypto-Assets) framework could create regulatory overlaps and compliance burdens.
Under the current interpretation, stablecoin issuers may need to obtain two separate licenses — one as an electronic money institution and another as a crypto asset service provider.
Circle and other industry leaders warn that this “dual compliance” requirement could discourage innovation and limit market access for global stablecoin firms operating in the EU.
Analysts note that while MiCA is designed to provide clarity and consumer protection, the implementation details will determine whether Europe becomes a hub for digital finance or a maze of regulatory hurdles.
“Circle Warns of ‘Double Licensing’ Risks Under EU Crypto Regulations”
