ECB, EU cenbanks seek changes in MiCA’s minimum bank deposit for stablecoins - TradingView

European Central Bank and euro-area national central banks are reportedly seeking changes to the reserve rules that stablecoin issuers must follow under the EU's Markets in Crypto-Assets (MiCA) regulation. According to TradingView, the focus is on the minimum share of stablecoin reserves that must be held as bank deposits. The debate centres on whether current thresholds adequately protect holders during periods of stress, or whether they impose costs that push issuers toward other reserve assets.

For markets, the signal matters more than any single number. MiCA is one of the first comprehensive frameworks for stablecoins, so how its reserve requirements are calibrated could influence where euro-denominated issuers base operations and how they structure liquidity. Tighter deposit rules may be read as a strengthening of redemption safeguards; looser ones could be seen as easing the cost of compliance.

The key thing to watch is the formal outcome of this consultation, since any amendment would go through the EU legislative process rather than take effect immediately. Until then, the existing MiCA reserve rules remain in force.