The European Central Bank has called on the European Commission to eliminate the mandatory requirement forcing stablecoin issuers to hold a percentage of their reserves in bank deposits, currently set at 30 % for non-significant tokens and 60 % for significant ones. The ECB is proposing to replace these fixed thresholds with a liquidity-focused framework where reserve assets would need to mature within one to five working days. The institution argues that mandatory bank deposits create systemic risks and potential instability for banks facing sudden redemption waves. This revision forms part of MiCA 2.0, following the regulation’s full implementation in 2024 and 2025, and also addresses enforcement gaps identified regarding non-compliant platforms operating from abroad.
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