Topic
The EU's Markets in Crypto-Assets Regulation, a framework governing crypto asset issuance, stablecoins, and service providers across member states.
BaFin refused futurum bank a MiCA licence 466 days after it applied, prolonging a bitcoin.de trading halt that began on June 12. Owner Bitcoin Group SE now plans to restart through regulated German partners, handing trading and custody to outside firms.
Reality
Circle told the European Commission that only 3 of the world's top 25 stablecoins are authorized under MiCA, in its response to the law's review. Circle issues two of the three, and it ties the gap to bank-deposit and concentration rules it wants loosened.
Perspective Coverage
5 publishersReality
Aave founder Stani Kulechov says the ECB and EBA want the Commission's MiCA review to ban stablecoin yield and tighten DeFi access. By his account, EU providers would keep DeFi access only for users who pass suitability tests, and perhaps only to protocols the authorities certify.
Reality
AllUnity, co-founded by Deutsche Bank's DWS, launched USDAU, a MiCA-regulated US dollar stablecoin, on six blockchains. Dollar tokens already hold more than 99% of a $291 billion stablecoin market, the segment AllUnity enters from a base of small euro and Swiss franc coins.
Reality
Article 143(3) ran out on 1 July 2026, so from that date Article 59 applies to EU client business without exception, and the register that decides who sits inside the perimeter is still being revised week by week.
Reality
EURR is issued by a Stripe-owned Luxembourg entity, not by Revolut. The regulated fintechs are distributing on-chain money; the balance-sheet obligation sits elsewhere.
Perspective Coverage
5 publishersReality
Independent testing says new European accounts were opened, verified and funded in mid-August, seven weeks past the MiCA cutoff. The exchange appears on neither of ESMA's two lists.
Reality
The Commission's MiCA review consultation closes Sept. 30, and nobody has a working test for which of a lending vault's role holders is the regulated provider.
Reality