ChainCatcher reported that according to CoinDesk, as the EU's strict rules on stablecoin issuers are about to take effect, major stablecoin issuers including Tether and Circle are facing urgent compliance pressure.

The new rules require issuers to obtain proper authorization when operating in 27 member states after June 30 and comply with strict restrictions on the number and value of transactions set in MiCA legislation. Under the law, companies must stop issuing medium-value asset reference stablecoins with more than 1 million transactions per day or more than 200 million euros per day. Although the EBA has not yet clarified how to measure these indicators, it is expected to release a final report soon.