ECB Wants EU to Scrap MiCA’s 60% Stablecoin Reserve Rule - CryptoRank

The European Central Bank is pushing to remove a key provision of the EU's Markets in Crypto-Assets (MiCA) framework — the requirement that stablecoin issuers hold at least 60% of reserves in EU-based bank deposits. According to CryptoRank, the ECB argues the rule could expose issuers and holders to concentration risk tied to the European banking system, and favors a more flexible reserve model.

The development matters because MiCA is among the first comprehensive regulatory regimes for crypto assets, and its reserve rules influence how stablecoin issuers structure liquidity and where they park collateral. Any change could affect the cost of issuing euro- and dollar-denominated stablecoins in the EU, and how competitive the bloc remains against other jurisdictions.

What to watch: whether EU lawmakers open MiCA for amendment, how banking authorities respond, and whether issuers adjust reserve disclosures. For now, this is a policy debate, not a rule change — the existing 60% requirement remains in force until formally revised.