European central banks seek to revise MiCA stablecoin deposit requirements

The European System of Central Banks is calling for the removal of mandatory minimum deposit requirements for stablecoin issuers under the Markets in Crypto-Assets Regulation (MiCA). Current rules require issuers to hold 30% to 60% of reserves as deposits in EU credit institutions, a policy that critics argue creates a direct link between stablecoin runs and banking system instability. The European Commission is currently reviewing these regulations, with a consultation period ending September 30.