#加密货币监管 Europe's recent actions on stablecoin regulation are quite interesting. MiCA will be fully implemented in 2026, directly setting a framework for euro stablecoins—reserve, regulation, and operational standards all in place. It sounds like regulation is regulation, but the key is how it will be implemented later.

Whether issuers can quickly establish distribution channels and bank partnerships will determine if stablecoins can truly take off. Without backing from banks, even the best legal framework is useless. Whether institutions and ordinary users are willing to accept it is the most practical issue.

It seems Europe is using legal measures to lock in the game rules first, aiming to incorporate stablecoins into the financial system rather than letting them grow wild. From a risk prevention perspective, this makes sense, but it will likely impact the speed of innovation. We’ll have to wait until 2026; this period will be a critical observation phase.