Circle urges MiCA changes as only 3 of top 30 stablecoins comply

REGULATORY DECISIONCircle urges MiCA changes asonly 3 of top 30 stablecoinscomply40IMPORTANCECLOSED7NEWS MEDIA9PIECESOct 1, 2026 20:05blockboard.net
In Stablecoins Regulation

Circle asked EU policymakers to revisit MiCA’s stablecoin reserve and issuance rules as the Commission reviews the framework. The filing also pressed for more flexibility on reserves, continued cross-border issuance, and a recognition path for foreign-regulated stablecoins, while other responses in the consultation focused on extending the ban on stablecoin yields into lending, staking, and similar activities.

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What this rests on

Claim by claim, with its source
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Circle sent its Oct. 1 policy submission to EU policymakers seeking changes to MiCA’s stablecoin issuance and reserve rules.
Circle urges MiCA changes as only 3 of top 30 stablecoins comply
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Circle’s EU policy director said only three of the world’s 30 largest stablecoins meet MiCA’s requirements.
Circle urges MiCA changes as only 3 of top 30 stablecoins comply
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Circle proposed keeping multi-issuance in place and adding an equivalence regime for stablecoins regulated outside the European Union.
Circle Pushes EU to Rethink MiCA Stablecoin Reserve Rules
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MiCA sets a 30% minimum for reserves held in commercial bank deposits, and that share rises to 60% for significant issuers.
Circle Pushes EU to Rethink MiCA Stablecoin Reserve Rules
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Circle told the European Commission that MiCA’s reserve mandates and concentration caps leave the largest global stablecoins outside Europe’s perimeter.
Circle Pushes Back on MiCA's Bank-Deposit Mandate for Stablecoins

What it means

Who it affects, what changes and what is still unconfirmed

Each sentence links inside to the piece that supports it.

Stablecoin issuers and users in the EU are the main group affected tomorrow morning, because the consultation now has a live record of industry objections to MiCA’s reserve design and its treatment of cross-border issuance. The ECB and the Commission also have a clearer set of opposing positions in front of them, including the push to extend yield restrictions beyond direct payments to lending, staking and similar activity.

In practice, the debate is shifting from fixed bank-deposit thresholds toward more flexible reserve rules, and from a narrow EU-only setup toward recognition of stablecoins issued under other regimes. The current requirements remain in place for now, including the 30% and 60% deposit thresholds, so nothing in the filings changes the rulebook today.

Market reaction

BT Bitcoin market event: it is read against the reference from 2 h before to 4 h after the line marks the first headline
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-0.35 % before publication
+0.32 % after
$84,574price at publication
13series points

The move was larger before the first headline than after. That is an observation, not an explanation: the market also moves on things nobody publishes.

How the story was built

Every piece in order, with the time its news medium declares — if it is not believable we use ours and say so — and what it added to what was already known at that point. Arriving first is not the same as adding something.

first
Oct 1 20:00
+2 h 40 m
Oct 1 22:40
Crypto Economy context
Its angle: capitalization, approximately, accommodating; with quotes
+16 h 26 m
Oct 2 12:25
Cointelegraph echo
No new facts: liquidity, mandatory, minimums
+16 h 54 m
Oct 2 12:53
Crypto Briefing context
Its angle: potentially, innovation, stability
+17 h 50 m
Oct 2 13:50
CR Cryptopolitan context
Its angle: prohibitions, alternatives, restriction; with quotes
+17 h 56 m
Oct 2 13:56
crypto.news echo
No new facts: reviews, markets, forcing; with quotes
+20 h 11 m
Oct 2 16:10
The Defiant echo
No new facts: recognition, safeguards, stronger
+22 h 9 m
Oct 2 18:09
Crypto Economy echo
No new facts: restrictions, remunerating, assimilates
+23 h 46 m
Oct 2 19:46
Decrypt echo
No new facts: concentration, perimeter, mandate; with quotes

Has this happened before?

WhenWhat happenedFigure
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17 days ago AllUnity Is Launching MiCA-Regulated U.S. Dollar Stablecoin USDAU event 1 actors in common · 6 news media
18 days ago Greece gets first MiCA entrants as watchdog denies Binance-Lagarde claim event 1 actors in common · 5 news media