Stablecoin News: ECB Pushes to Scrap MiCA’s 60% Deposit Rule - CryptoRank

The European Central Bank is pushing to remove a key provision of the Markets in Crypto-Assets (MiCA) framework that requires stablecoin issuers to hold at least 60% of their reserves in bank deposits. The rule, designed to back token stability with traditional banking assets, has been a point of contention between regulators and the crypto industry since MiCA's rollout.

For markets, the debate matters because reserve composition directly affects how stablecoin issuers manage liquidity, yield, and exposure to banking risk. A shift away from the 60% deposit requirement could give issuers more flexibility in how reserves are structured, though the ECB's stance signals it favors stricter, not looser, reserve standards.

What to watch: the final regulatory text and any transitional timelines, since these determine when issuers would need to adjust reserve portfolios. Also monitor how other jurisdictions respond, as MiCA is often treated as a reference point for global stablecoin rules.