European Union diplomats expect officials to reopen the Markets in Crypto-Assets Regulation in 2027 after current rules left non-EU stablecoins such as USDT without a compliant route onto regulated exchanges. The review could extend MiCA to tokenized deposits, payments and other real-world assets, and comes as the United States advances its own stablecoin framework under the GENIUS Act.
European diplomats expect policymakers to reopen the Markets in Crypto-Assets Regulation in 2027, according to a Euronews report cited by crypto.news. Current rules have already left non-EU stablecoins such as USDT without a compliant route onto regulated exchanges across the bloc.
EU officials see MiCA revision as unavoidable
An unidentified European diplomat told Euronews: "Reopening the file seems unavoidable at this stage." The diplomat cited positions taken by European institutions, including the European Central Bank, along with changes in global regulation and digital-asset technology.
No final proposal has been published yet. Any amendment would still need to pass through the EU's legislative process before taking effect.
Stablecoin gap exposed by MiCA transition deadline
MiCA's final transition period for crypto-asset service providers ended on July 1, forcing covered companies to obtain authorization or stop providing regulated services. The change left Tether's USDT without a compliant route onto regulated EU exchanges because the issuer did not seek authorization. Separately, Coinbase, Kraken and Crypto.com were among the platforms that removed USDT trading for European customers.
Circle took a different approach and secured authorization for USDC and EURC. Stripe-owned Bridge also joined the MiCA register, raising the number of authorized electronic-money-token issuers to 42. Overall, the bloc has registered 324 authorized crypto-asset service providers.
A revision could create a route for foreign issuers while preserving the EU's reserve, disclosure and consumer-protection requirements. The European Commission opened a targeted consultation on the MiCA framework on May 20 to determine whether the framework remains fit for purpose. Its response deadline has since been extended to Sept. 30, with crypto issuers, service providers and regulators invited to respond.
US stablecoin law adds pressure on Europe
The reported review comes as the United States advances its stablecoin framework under the GENIUS Act, signed into law in July 2025. The law set federal requirements for payment-stablecoin reserves, redemptions, disclosures and supervision, giving issuers a federal structure. Still, U.S. agencies missed a one-year deadline to finalize several implementing rules.
European officials are also weighing whether MiCA should cover newer forms of tokenization, including tokenized deposits, payment instruments and real-world assets that fall outside existing categories. MiCA was approved by the Council of the EU in May 2023, and a 2027 revision would let policymakers update it after several years of implementation and growing competition from the US stablecoin sector.
Source: crypto.news
Trading involves risk.
Risk Disclaimer
