📢Odaily Planet Daily is here! Digital Euro Association has recently released a report that deeply analyzes the impact of European MiCA regulations on the issuance of stablecoins. 🔍The report believes that MiCA is expected to become the basis for global stablecoin regulation, but it also puts forward some suggestions for improvement. 👏

The report recommends that a global institution similar to the Basel Committee should be established to unify stablecoin standards and learn from the implementation of MiCA. 🌐However, the report criticizes MiCA's strict regulations, such as requiring ordinary stablecoins and important stablecoins to hold 30% and 60% reserves respectively, which affects profitability and increases credit risk. 💼

The report also discusses the ambiguity of anti-money laundering (AML) regulations and believes that further clarification is needed. 🔬At the same time, international stablecoin issuers face challenges in complying with MiCAR, such as hiring EU-authorized custodians and addressing the complexity of dual issuance structures. 🏦

The report disagrees with MiCA's scale restrictions on the use of foreign currency electronic currency tokens in the EU, believing that this may weaken the USD/EUR trading pair, but this is not the case. 🚫 Overall, the report lists many gray areas and topics that need to be considered in the EU and elsewhere. 🌍

We remain optimistic about the prospects of Bitcoin! 💰🚀Stay tuned, we will continue to bring you the latest blockchain global regulatory developments, industry trends and cryptocurrency news. 🔔