Circle and HPC file MiCA regulatory submissions with European Commission
CIE News ·
Circle and the Hyperliquid Policy Center have submitted filings to the European Commission, seeking changes to MiCA reserve mandates and derivatives rules, according to The Block.
The Hyperliquid Policy Center (HPC) and Circle submitted regulatory filings to the European Commission following a public consultation on the Markets in Crypto-Assets (MiCA) framework, according to The Block. Circle requested the removal of the requirement for stablecoin issuers to hold 30% to 60% of reserves in commercial bank deposits, arguing instead for a wider range of high-quality liquid assets. Meanwhile, HPC petitioned the Commission to classify and regulate crypto perpetual contracts under MiFID II rather than under MiCA or CFD restrictions.