Crypto Regulation Bill MiCA Includes Again Limits on the Transfer of Stablecoins
The French delegation in the Council of the EU has lobbied for the reinstatement of the non-euro stablecoin transaction limit in the crypto regulation bill MiCA.
The norm on the maximum allowable daily transfer amount for issuers in the amount of €200 million was returned a week after it was removed from the document, a move that has received support from the representatives of Germany, Italy and the Netherlands.
According to the new edition of the document, the limit does not apply to stablecoins used to buy cryptocurrencies. Dimitris Psarrakis, head of XReg Consulting’s EU affairs department, has said that it is used for spot trading of assets on exchanges,
The restored provision limits the number of foreign exchange-backed stablecoins that can be moved in a single day.
