The EU plans to expand the MiCA regulatory scope to cover tokenized and non-EU stablecoin issuers

According to The Block, the European Union is considering revising its Markets in Crypto-Assets Regulation (MiCA), just about a week after this crypto regulatory framework fully came into effect. The European Commission is seeking feedback from relevant stakeholders, with a deadline of September 30.

According to several anonymous sources familiar with the matter, the European Commission is assessing whether to expand the regulatory scope of MiCA to include emerging areas such as tokenization and non-EU stablecoin issuers.

MiCA is a comprehensive regulatory framework established by the EU for crypto assets, aimed at creating unified rules for the issuance, trading, custody, and other related services of crypto assets across the EU. The regulation officially comes into effect in December 2024, but most service providers have been granted a transition period to complete compliance adjustments, which lasts until July 1 of this year.