EU officials are reportedly planning to revise the Cryptocurrency Asset Markets Framework (MiCA), while a U.S. law targeting stablecoins is being implemented.
Euronews reported on Wednesday that EU officials plan to revisit proposed changes to MiCA to expand the scope of the framework, particularly for non-EU companies issuing stablecoins. These revised rules are said to be reviewed in 2027 and are designed to respond to the U.S. National Innovation Act to Guide and Establish U.S. stablecoins (GENIUS Act). The bill put pressure on EU officials to clarify how U.S. stablecoin issuers should be regulated within member states.
In addition, officials are said to be considering expanding MiCA to include rules on tokenized payments and deposits.
According to MiCA, crypto companies that provide services to EU users in 27 member states must now obtain a crypto asset service provider (CASP) license issued by a regulator in one of the member states. Although the license requirement came into effect on July 1, European Commission officials had previously opened a consultation period for possible revisions to the framework, covering elements such as decentralized finance (DeFi) and stablecoins.
The proposed framework, dubbed by some as \"MiCA 2.0,\" will be open for consultation until August 31. However, Miroslav Durić, senior partner at Taylor Wessing, told Cointelegraph in June that it was unlikely that \"any specific legislative proposal would be passed before 2028.\"
In addition to the GENIUS bill, U.S. lawmakers are also said to continue to discuss advancing their own version of market structure, the Digital Asset Markets Clarification Act (CLARITY Act). The bill, which has been pushed by two key committees over the past 12 months, is expected to go to a vote in the Senate in July, before the Senate will recess for a month to start a state work period.
EU regulators review crypto custody risks
One of the regulators supporting MiCA implementation, the European Securities and Markets Authority (ESMA), announced on Wednesday that it plans to review the operational resilience of CASPs licensed under the recently implemented framework. From July until the first half of 2027, EU regulators will review how crypto companies handle operational risks related to custody.

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