EU banking regulator holds public hearing on proposed stablecoin guidelines under MiCA framework

The European Union's banking regulator conducted a public hearing to discuss the proposed operational guidelines for stablecoin issuers under the upcoming Markets in Crypto Assets (MiCA) framework. Officials urged the public and industry members to engage with them to ensure the rules are correct. The EBA is responsible for creating a single rulebook for stablecoin issuers under MiCA and presented its proposed guidelines for issuers of asset-referenced tokens during the hearing. The EBA is seeking input from various stakeholders and will use feedback from open consultations to finalize its rulebook. Similar hearings will be held next week.