PANews reported on June 28 that the stablecoin rules in the EU Crypto-Asset Markets Act (MiCA) will take effect on June 30. The rules prohibit stablecoins from making more than 1 million payment transactions per day, or daily transactions exceeding 200 million euros (about 215 million US dollars). Stablecoin issuers such as Tether and Circle need to obtain the necessary electronic money licenses by the end of this month to operate legally in the EU. The European Banking Authority (EBA) will publish a final report by the end of the month, detailing how to monitor the compliance of stablecoin issuers.
Earlier this week, it was reported that Bitstamp will delist Tether's euro stablecoin as the EU MiCA law is about to take effect. As the EU MiCA regulation approaches, Binance suspends copy trading for European users. Previously, Uphold announced that it would terminate support for multiple stablecoins such as USDT and DAI before the European crypto bill MiCA takes effect.
