Briefing - MiCAR versus the GENIUS Act - 25-06-2026
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The EU’s Markets in Crypto-Assets Regulation (MiCAR) establishes a broad but residual framework for crypto-assets not already covered by existing EU financial legislation, combining rules for stablecoins with a wider regime for crypto-asset service providerBriefing - MiCAR versus the GENIUS Act - 25-06-2026
The EU’s Markets in Crypto-Assets Regulation (MiCAR) establishes a broad but residual framework for crypto-assets not already covered by existing EU financial legislation, combining rules for stablecoins with a wider regime for crypto-asset service providers. By contrast, the US GENIUS Act focuses specifically on payment stablecoins, establishing rules on issuance, reserve backing and supervision within the existing US regulatory structure. This briefing compares both frameworks, examining their approaches to classification, supervision, AML/CFT and regulatory coordination, while also considering selected implications for financial stability and monetary sovereignty. It argues that the main difference between the two models lies less in their treatment of stablecoins themselves than in how they organise the relationship between digital assets, existing financial law and supervisory structures. More generally, the comparison illustrates how digital asset regulation is progressively moving from experimentation towards integration into existing financial and regulatory systems. Source : © European Union, 2026 - EP Read more














