Stablecoins Under Scrutiny: What MiCA Means for USDT, USDC, and Euro-Pegged Tokens

“Stablecoins are no longer experiments — under MiCA, they are regulated money.” – DNA Crypto Knowledge Base.

The EU’s Markets in Crypto-Assets Regulation (MiCA) is expected to significantly impact the stablecoin landscape in 2025. With its strict rules on reserves, custodianship, and licensing, MiCA is forcing global players like Tether (USDT) and Circle (USDC) to reassess their European strategies, while euro-pegged tokens gain momentum.

Learn more: Stablecoins and MiCA Regulation

MiCA’s New Framework for Stablecoins

MiCA divides Stablecoins into two categories:

• – Asset-Referenced Tokens (ARTs): Backed by baskets of assets such as fiat, commodities, or crypto.
• – Electronic Money Tokens (EMTs): Pegged 1:1 to a fiat currency like the euro or dollar.

Both categories require:

• – 1:1 reserve coverage with EU-recognised custodians
• – Licensing as an EMI or CI
• – Whitepaper disclosures
• – Digital Token Identifiers (DTIs)
• – Ban on algorithmic Stablecoins

Explore: What is MiCA and Why It Matters

USDT and USDC: Diverging Paths

• – USDT: Tether has struggled to meet MiCA’s standards. Without EU-based custodians, exchanges like Binance, Coinbase, and Kraken have delisted USDT across Europe.
• – USDC: Circle has pursued full EMI licensing in France, positioning USDC as the compliant dollar Stablecoin for European investors.

This divergence shows that compliance is no longer optional — it’s existential.

Read: Global Impact of MiCA

The Rise of Euro Stablecoins

MiCA’s framework has accelerated euro-pegged tokens such as:

• – EURC (Circle)
• – EURS (Stasis)
• – EURQ (Quantoz)

With €150 billion projected to migrate to euro-backed EMTs by year-end, euro-native liquidity is finally gaining traction.

Explore: The Digital Euro Project

What This Means for Investors and Institutions

• – Institutional adoption: 75% of EU institutions now consider Stablecoins for diversification.
• – Liquidity migration: Non-compliant tokens exit, compliant EMTs consolidate liquidity.
• – Innovation pressure: Issuers face fines of up to €15M or 3% of annual turnover for non-compliance.

See: DeFi and MiCA Regulation

DNA Crypto’s Role

As a VASP-licensed broker in Poland, DNA Crypto is helping clients transition seamlessly:

• – Onboarding compliant euro-backed EMTs
• – Offering bespoke custody & brokerage
• – Phasing out legacy tokens with transparency and trust

More: Institutional Bitcoin Adoption

Conclusion

MiCA is both a filter and a framework. The winners — compliant euro and dollar Stablecoins — will define the future of digital money in Europe. For investors, it’s not just about choice anymore. It’s about choosing compliance, liquidity, and trust.

Stock: Envato
Disclaimer: This article is for informational purposes only and not intended as legal, tax, or financial advice.

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