{"id":77953,"date":"2023-04-27T14:38:30","date_gmt":"2023-04-27T11:38:30","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=77953"},"modified":"2025-09-11T02:12:31","modified_gmt":"2025-09-10T23:12:31","slug":"eu-emphasises-need-to-diversify-stablecoin-reserves","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/eu-emphasises-need-to-diversify-stablecoin-reserves\/","title":{"rendered":"EU emphasises need to diversify stablecoin reserves."},"content":{"rendered":"<p>The forthcoming EU rules will place emphasis on diversifying the reserve backing of &#8216;stablecoins&#8217;, <a href=\"https:\/\/www.eurofi.net\/wp-content\/uploads\/2023\/04\/views-the-eurofi-magazine_stockholm_april-2023.pdf\">said<\/a> Jos\u00e9 Manuel Campa, chair of the <span data-descr=\"European Banking Authority\" class=\"old_tooltip\">EBA<\/span>.<\/p>\n<p>On 20 April, the European Parliament <a href=\"https:\/\/u1f987.com\/en\/news\/eu-approves-regulation-of-the-crypto-industry\">approved<\/a> the bill regulating the crypto-asset market (MiCA). The new rules will take effect from 2024.<\/p>\n<p>MiCA requires stablecoin issuers to hold adequate reserves, and &#8220;the EBA will pay particular attention to the diversification of these funds,&#8221; Campa explained.<\/p>\n<p>He stressed the importance of issuers eliminating conflicts of interest, and of showing the link between storage facilities and trading platforms.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The contours of MiCA are already clear at this stage, and I would urge market participants to begin adjusting their trading activity to ensure robust risk management,&#8221; Campa said.<\/p>\n<\/blockquote>\n<p>Earlier, as the vote approached, EU lawmakers <a href=\"https:\/\/u1f987.com\/en\/news\/eu-lawmakers-weigh-the-merits-and-drawbacks-of-mica\">discussed the advantages and drawbacks<\/a> of MiCA. One of the bill&#8217;s authors said that its approval would place the jurisdiction &#8220;at the forefront of the digital-asset economy and restore the trust that was undermined by <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\">the collapse of FTX<\/a>&#8220;.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The forthcoming EU rules will place emphasis on the diversification of reserve backing for stablecoins, said Jos\u00e9 Manuel Campa, chair of the EBA.<\/p>\n","protected":false},"author":1,"featured_media":77954,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[733,1483,36,807],"class_list":["post-77953","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-europe","tag-mica","tag-regulation","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/77953","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=77953"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/77953\/revisions"}],"predecessor-version":[{"id":77955,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/77953\/revisions\/77955"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/77954"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=77953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=77953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=77953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}