According to Odaily, as the Markets in Cryptoassets (MiCA) framework approaches its first deadline, EU market regulators and crypto platforms are ready to kick out stablecoins that do not meet reserve requirements, governance rules and safeguards. In response, the European Banking Authority is appointing cryptocurrency experts to oversee the implementation of cryptocurrency and cybersecurity laws.

The MiCA Framework, a regulatory structure for the crypto asset market, is approaching its initial deadline. This has led to action by EU market regulators and cryptocurrency platforms. They are preparing to expel any stablecoins that do not comply with necessary reserve requirements, governance rules and safeguards. These measures are crucial to ensuring the stability and security of the cryptocurrency market.

In a move to ensure the effective implementation of these regulations, the European Banking Authority is actively recruiting cryptocurrency experts. These experts will be responsible for overseeing the enforcement of encryption and cybersecurity laws. Their role will be pivotal in maintaining the integrity of the cryptocurrency market within the EU, ensuring that all active stablecoins adhere to set regulations.