The EU is considering expanding the scope of MiCA to cover tokenization and non-EU stablecoin issuers

BlockBeats News, July 8th. The European Union is considering revising its Markets in Crypto-Assets (MiCA) proposal, just about a week after the comprehensive crypto regulation framework came into effect.

The European Commission is seeking feedback from relevant stakeholders, with the deadline set for September 30th. According to multiple anonymous sources familiar with the matter, the European Commission is assessing whether to expand MiCA's regulatory scope to cover emerging areas, including tokenization and non-EU stablecoin issuers.

MiCA is the EU's comprehensive regulatory framework for crypto assets, aiming to establish uniform rules for crypto asset issuance, trading, custody, and other related services across the entire EU. The regulation is set to come into full effect in December 2024, with most service providers having a transition period to complete compliance adjustments, which has been ongoing until July 1st of this year.