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

The European Central Bank is reportedly pushing to remove a rule under the Markets in Crypto-Assets (MiCA) framework that would require stablecoin issuers to hold at least 60% of their reserves as bank deposits. MiCA, the EU's comprehensive crypto regulation, sets reserve and custody standards for stablecoin issuers operating in the bloc.

The 60% deposit requirement has been a point of contention. Critics argue that forcing issuers to park most reserves in bank accounts could concentrate risk in the banking system and reduce flexibility in how reserves are managed. The ECB's position, as reported, favors revisiting that threshold rather than keeping it fixed.

For markets, the debate matters because reserve rules directly affect how stablecoins are structured, how much yield issuers can generate, and how exposed they are to banking-sector stress. What to watch: whether EU lawmakers formally reopen the MiCA text, how the European Banking Authority and other supervisors respond, and whether any change signals a broader shift in how regulators treat stablecoin reserves globally.