Circle EU Director Flags MiCA Gap, Urges Offshore Token Recognition Mechanism

Only 3 of top 50 stablecoins meet MiCA rules. Circle’s EU head urges offshore recognition to avoid user protection gaps and boost global regulatory alignment.

Woofun AI reports that Patrick Hansen, Circle’s Senior Director of EU Strategy and Policy, highlighted significant limitations in the current MiCA stablecoin framework. While approximately 35 Electronic Money Tokens from 21 institutions have secured compliance certification since implementation, only USDC, USDG, and EURC among the top 50 global stablecoins currently satisfy MiCA requirements. This discrepancy leaves EU users facing either a lack of regulatory protection or restricted access to major assets. Hansen argues that for MiCA to serve as a global regulatory blueprint, it must establish a recognition mechanism for foreign compliant stablecoins, rather than relying solely on local issuance as the entry path.