European Central Bank Submits MiCA Review Comments: Eliminate 60% Bank Deposit Requirement and Restrict Indirect Yield Products for Stablecoins.
The European System of Central Banks (ESCB, comprising the European Central Bank and the national central banks of EU member states) submitted its comments on MiCA to the European Commission on September 22, calling for the removal of the requirement that stablecoin issuers hold 30%–60% of their reserves in commercial banks and recommending the adoption of a “liquidity threshold” instead. The ESCB also called for MiCA’s ban on interest payments to be expanded from “direct interest payments” to i
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