Against the dominance of USDT, with a market capitalization of around $183 billion, and USDC, valued at $72.2 billion, euro-denominated stablecoins remain marginal. The French Treasury, AMF, Banque de France, and ACPR acknowledge that this dependence on the dollar exposes Europeans to currency risk and raises monetary sovereignty issues. To revise MiCA, the French authorities plan to prohibit licensed platforms from providing services involving non-compliant stablecoins, while allowing USDC, ease liquidity requirements, and regulate multi-issuance. They also propose simplifying MiCA by eliminating the category of asset-referenced tokens, although they recognize that these measures do not guarantee a shift from the dollar to the euro.
Source: Read the original article
