European Union officials are planning changes to the Markets in Crypto-Assets framework — some are already calling it “MiCA 2.0.” The trigger? A US stablecoin law and questions around how to handle tokenized payments and deposits.
According to a Wednesday report from Euronews, the EU wants to broaden MiCA’s scope. The main target: non-European companies issuing stablecoins. The revised rules would reportedly land in 2027. They’re a direct response to the GENIUS Act across the Atlantic, which put pressure on EU regulators to figure out how US-based stablecoin issuers would be treated in member states.
Right now, any crypto company serving EU users across all 27 member states needs a Crypto-Asset Service Provider (CASP) license from a regulator in one of those countries. That requirement kicked in July 1. But the European Commission had already opened a comment period for revising the framework — including provisions on DeFi and stablecoins.
The comment period runs until August 31. Don’t expect fast action though. Miroslav Durić, a senior associate at Taylor Wessing, told Cointelegraph in June it’s unlikely any concrete legislative proposals get adopted before 2028.
Meanwhile, EU securities regulator ESMA announced Wednesday it plans to review how CASPs handle custody-related operational risks. That review runs from July through the first half of 2027.
Back in the US, lawmakers are still talking about their own market structure bill — the CLARITY Act. It’s reportedly headed for a Senate vote in July.
