Summary
- The European Union’s Markets in Crypto-Assets (MiCA) framework introduces guidelines for stablecoin issuers
- MiCA distinguishes between E-money Tokens (EMTs) and Asset-Referenced Tokens (ARTs) with specific regulatory requirements
- Circle, issuer of USDC and EUROC, is the first MiCA-licensed issuer of EMTs in Europe
- Reporting requirements, issuance restrictions, and oversight for significant tokens are key elements of MiCA
