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CRYPTOMiCA Stablecoin Passport –Who Can Issue and Who CannotFull list of EU-compliant issuers, the ones that pulled out, and wha<CYBER·FRAGLAB/>
// CRYPTO / ANALYSIS

MiCA Stablecoin Passport – Who Can Issue and Who Cannot

// CYBERFRAGLAB DESK :: MAY 1, 2026 :: 5 MIN READ

MiCA stablecoin passport regime is fully active — EU issuer landscape settling.

Compliant: Circle (USDC), SocGen-Forge (EURCV), MEMBank (EURD). Non-compliant or pulled: Tether (USDT) for new issuance into EU venues, with existing supply being delisted from regulated EU exchanges over Q2-Q3.

CRYPTO<CYBER·FRAGLAB/>

What it does to volumes

EUR-denominated stablecoin volume tripled in 90 days off small base. USDT EU volume dropping. Net: more fragmented stablecoin market with strong euro-side native rails.

CRYPTO<CYBER·FRAGLAB/>

CFL view: most consequential stablecoin regulatory regime to date.

// FILED :: CRYPTO← BACK_TO_LAB

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