{"id":82155,"date":"2023-07-25T16:22:32","date_gmt":"2023-07-25T13:22:32","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=82155"},"modified":"2025-09-12T03:23:28","modified_gmt":"2025-09-12T00:23:28","slug":"eba-to-impose-additional-rules-on-stablecoin-issuers","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/eba-to-impose-additional-rules-on-stablecoin-issuers\/","title":{"rendered":"EBA to impose additional rules on stablecoin issuers"},"content":{"rendered":"<p>Stablecoin issuers<a href=\"https:\/\/forklog.com\/en\/news\/what-are-stablecoins\"> whose reserves consist of derivatives or covered bonds will face additional regulation. This stems from the draft of new rules by <span data-descr=\"European Banking Authority\" class=\"old_tooltip\">EBA<\/span>, according to <a href=\"https:\/\/www.coindesk.com\/policy\/2023\/07\/24\/eu-stablecoin-issuers-with-bank-assets-in-reserve-will-get-extra-regulation-eba-draft-says\/\">CoinDesk<\/a>.<\/p>\n<p>The document envisages higher capital requirements for such firms in the event that the tokens they issue are deemed &#8216;significant&#8217;.<\/p>\n<p>Supervision of such entities will be partly or wholly assigned to the EBA.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cFinancial difficulties at a single issuer of ART or EMT could significantly increase the likelihood of problems for other crypto-asset issuers or for other financial institutions, given the network of their contractual obligations,\u201d the document states.<\/em><\/p>\n<\/blockquote>\n<p>The EBA has set out a number of preliminary criteria for designating stablecoins as &#8216;significant&#8217;. Among them:<\/p>\n<ul class=\"wp-block-list\">\n<li>the share of assets issued by regulated financial institutions, excluding deposits;<\/li>\n<li>market share in cross-border payments;<\/li>\n<li>the number of users;<\/li>\n<li>market capitalization.<\/li>\n<\/ul>\n<p>According to <span data-descr=\"Markets in Crypto Assets \u2014 markets in crypto assets\" class=\"old_tooltip\">MiCA<\/span>, issuers of such assets will be required to conduct stress tests and to hold 3% of reserves in their own capital (for other institutions this parameter is 2%).<\/p>\n<p>The draft of rules will be published for consultation with interested parties.<\/p>\n<p>As reported in July 2023, the EBA<a href=\"https:\/\/forklog.com\/en\/news\/european-regulator-issues-guidelines-for-stablecoin-issuers\"> published<\/a> &#8216;guidelines&#8217; for stablecoin issuers under the MiCA regulatory framework.<\/p>\n<p>The document urges companies to prepare their business for compliance with the legislation approved on 20 April, which will take effect on 30 June 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stablecoin issuers whose reserves consist of derivatives or covered bonds will face additional regulation. This stems from the draft of new EBA rules, CoinDesk reports.<\/p>\n","protected":false},"author":1,"featured_media":82156,"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":[1229,733,1483,36,807],"class_list":["post-82155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-europe","tag-mica","tag-regulation","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"6","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82155","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=82155"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82155\/revisions"}],"predecessor-version":[{"id":82157,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82155\/revisions\/82157"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/82156"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=82155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=82155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=82155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}