What are the rules for stablecoins under MiCA?
MiCA splits stablecoins into two kinds. Asset-referenced tokens need authorisation from the competent authority. E-money tokens, which track a single currency, may only be issued by credit institutions or e-money institutions. Both must hold reserves and give holders a right of redemption.
Legal basis
Articles 16, 36, 39 and 48, Regulation (EU) 2023/1114
Official source: EUR-Lex
Reviewed 2026-10-02 · Objekt short:eu:mica-stablecoins · Source: NovaCopilot
General information, not legal advice.
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