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The MiCA passporting mechanism enables crypto-asset service providers (CASPs) to obtain Article 63 authorization from their home country’s national competent authority (NCA). Afterward, CASPs submit a cross-border service notification to the home NCA, which must forward it within 10 business days to the host country’s NCA, the European Securities and Markets Authority (ESMA), and the European Banking Authority (EBA). This process allows CASPs to offer authorized services in the notified member states without having to apply for a separate license in each country.

MiCA is expected to become the GDPR of cryptocurrency, a widely adopted regulatory standard around the world, but that’s not a foregone conclusion yet. It is undeniable that MiCA will have a significant impact on their crypto-asset frameworks in other jurisdictions, especially those with less experience in financial regulation and supervision.

This article examines the EU's approach to regulating stablecoins, emphasizing the role of auditors in security and risk assessments under these

The EU’s Markets in Crypto-Assets Regulation (MiCA) provides a unified approval and EEA passporting framework for Crypto-Asset Service Providers (CASP) throughout the EU. Stablecoins are regulated under two classifications: Electronic Money Tokens (EMT) and Asset-Referenced Tokens (ART). After Brexit, the UK’s Financial Conduct Authority (FCA) has pursued an independent regulatory path, centering on anti-money laundering registration, financial promotion approval, and further frameworks under the FSMA. There is no cross-border mutual recognition between the EU and UK; therefore, serving both markets requires separate compliance with each jurisdiction’s rules.

Gate’s MiCA-compliant services in the European Economic Area (EEA) are operated by Gate Technology Limited. On September 29, 2025, the company was authorized as a Crypto Asset Service Provider (CASP) under Article 63 by the Malta Financial Services Authority (MFSA), holding LEI 984500D6A0F945BB5A15. The authorization encompasses six service areas: custody, trading platform operation, crypto asset and funds/crypto asset exchange, order execution, and transfer. Leveraging the MiCA passport mechanism, Gate is able to notify and conduct business across 29 EEA member states.

Eurite (EURI) is a MiCA-regulated Euro stablecoin issued by Banking Circle S.A., pegged 1:1 to the Euro and backed by cash reserves, and operates on Ethereum (ERC-20) and BNB Smart Chain (BEP-20).

The article offers a thorough analysis of both the speed and specifics of policy developments across different countries, and uses concrete case studies to highlight how each nation has forged its own distinct approach and strategy in regulating stablecoins.

This analysis explores the latest developments in EU cryptocurrency policies, focusing on the MiCA regulation and its major regulatory initiatives for 2024. The study examines how the EU's framework impacts digital finance through technological innovation support, market regulation improvements, investor protection mechanisms, and cross-border financial cooperation. Through comparisons with US and Russian policies, it investigates how the EU's regulatory approach influences the global cryptocurrency landscape, providing comprehensive insights into this evolving sector.

The article briefly explores current cryptocurrency regulations and the anticipated legislative landscape for 2024 from a geographical perspective.

The article provides a detailed introduction to the regulatory processes of various countries, regulatory documents, regulatory bodies, and the core content of the regulatory framework, including the definition of stablecoin, the entry thresholds for issuers, the mechanisms for maintaining coin value stability and reserve assets, compliance requirements during circulation, and special regulatory rules for important stablecoins.