Circle Exec Says EU Risks “Regulatory Own Goal” Amid MiCA–PSD2 Clash

Stablecoin firms in the European Union are approaching a major regulatory challenge. Beginning in March 2026, providers of e-money token (EMT) custody and transfer services may be required to hold both a MiCA crypto license and a separate payment services license for the same activity. This situation creates a significant compliance burden, with industry leaders warning it could stall euro stablecoin adoption. Regulatory Overlap Triggers Compliance Crisis The root of the issue is the overlap between the MiCA (Markets in Crypto-Assets) regulation and the Payment Services Directive (PSD2) source: https://beincrypto.com/eu-stablecoin-dual-licensing-mica-psd2/