European Banking Authority requires early adoption of stablecoin requirements

Prematurely of required rules anticipated within the coming 12 months, the banking watchdog for the European Union requested stablecoin issuers to voluntarily observe sure “guiding rules” on danger administration and shopper safety.

On July 12, the European Banking Authority (EBA) launched its first set of measures for public remark to make clear the Markets in Crypto-Property regulation (MiCA) necessities for issuing a stablecoin set to take impact on June 30, 2024. The measures include clauses similar to a perpetual proper of redemption and pointers for managing complaints.

Proceed Studying on Coin Telegraph