Stablecoin News: ECB Pushes to Scrap MiCA’s 60% Deposit Rule - CryptoRank

The European Central Bank is reportedly pushing to remove a key provision of the Markets in Crypto-Assets (MiCA) framework that would require stablecoin issuers to hold at least 60% of their reserves in bank deposits. MiCA, the EU's comprehensive crypto regulation, currently includes this deposit requirement as part of its reserve rules for asset-referenced and e-money tokens.

For the market, the debate matters because reserve composition directly affects how stablecoin issuers manage liquidity, yield, and exposure to the traditional banking system. A 60% deposit mandate would tie a large share of reserves to bank accounts, potentially limiting issuers' flexibility and raising questions about concentration risk in the banking sector. Removing it could allow broader use of short-term government instruments, though the ECB's stance signals ongoing concern about how stablecoin reserves interact with monetary policy and financial stability.

What to watch: whether EU lawmakers revise the final MiCA text, how major euro-denominated stablecoin issuers respond, and whether the outcome shapes similar reserve rules in other jurisdictions.