The ECB has sketched out how it wants to see Europe’s crypto rules updated, a day after launching Pontes, its system for settling tokenized assets in central bank money. The European System of Central Banks, which includes the ECB and the EU’s national central banks, issued the answer on Tuesday arguing for harsher controls on stablecoins, staking and crypto businesses.
It forms part of the European Commission’s examination of the Markets in Crypto-Assets Regulation (MiCA), the EU’s rules for cryptocurrencies and the companies who trade them. MiCA has been in force since December 2024 and the final transitional date for existing operators to stop serving European consumers, including Binance, the world’s largest exchange, ended July 1.
The central banks’ recommendations are not binding and the Commission will take them into account, among other reactions, before considering whether to revise the statute. EU ambassadors have said they foresee a change in 2027 which would have to be approved by the European Parliament and member states.
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