Work Begins on Version 2 of the Regulation Affecting Hundreds of Exchanges: Scope is Expanding
The European Commission plans to expand the scope of the MiCA crypto-asset regulation by including the digitalization of assets and non-European stablecoin issuers in the rules.
Shortly after the full implementation of the landmark MiCA cryptocurrency law, the European Union is taking new steps to keep pace with rapidly evolving technology. The Commission aims to update the regulations to cover topics such as tokenization—the conversion of physical assets into digital representations—and the global use of stablecoins. This move reflects Europe’s desire to reshape its digital finance landscape.
According to information shared by Euronews, the European Commission is requesting feedback from industry stakeholders on this matter until September 30. While current rules establish standards for areas such as crypto-asset issuance, trading, and custody, new trends like the digitalization of stocks have not yet been fully integrated into this framework. In particular, the start of such services by exchanges outside of Europe has prompted regulators to take action.
The Tokenization and Stablecoin Race in the Crypto World
Under the regulation, stablecoins are divided into two categories: electronic money tokens pegged to fiat currencies and tokens based on assets such as commodities. However, tokenized stocks currently remain under existing securities laws. According to data from RWA.xyz, the value of on-chain stocks increased by 45 percent compared to last month, reaching $2.16 billion. This growth proves how dominant digital assets and price charts have become in financial markets.
Legal developments in the US and strict rules regarding stablecoin reserves are also influencing Europe’s move. Stricter liquidity limits supervised by the European Banking Authority aim to protect financial stability in the region. The Commission aims to keep the MiCA framework up to date by evaluating changes in the global policy environment and to consolidate Europe’s leadership in the digital finance space.