European Commission Evaluates MiCA Framework Amid Industry Feedback

The European Commission is reviewing the Markets in Crypto-Assets (MiCA) regulation following a public consultation period that concludes on September 30, 2026. Since the implementation of stablecoin rules in June 2024 and broader requirements for crypto-asset service providers in December 2024, the framework has seen 39 e-money tokens issued, but zero authorized asset-referenced tokens. Compliance costs for firms range from approximately 57,000 to 170,000 dollars for basic services, with larger platforms potentially facing costs in the millions. On September 24, 2026, the European Banking Authority recommended strengthening oversight for multi-issuer stablecoins. The Commission is expected to prepare reports by June 2027, which may lead to legislative amendments.