According to Odaily Planet Daily, the European Banking Authority plans to publish a final report on how to monitor stablecoin issuers at the end of this month. Tether, Circle and other large stablecoin issuers will soon be subject to strict supervision by the European Union. Under the new regulations that came into effect on June 30, these companies will not only need to obtain proper authorization to conduct business in the 27-country trade zone, but will also face strict restrictions on the number and value of transactions under the Crypto Asset Market (MiCA) legislation. Robert Kopitsch, Secretary General of European Blockchain, said that these regulations mean that some of the largest stablecoin issuers may not be able to operate in the European Union, including Tether and Circle.