[Coinbase: The EU Should Leverage the MiCA Review Opportunity to Transform Early Regulatory Leadership into a Lasting Competitive Advantage] Katie Harries, Coinbase's Head of European Policy, wrote that the EU should leverage the MiCA review opportunity to transform its early regulatory leadership into a lasting competitive advantage. She proposed several recommendations: adjust stablecoin reserve requirements to allow a higher proportion of high-quality sovereign assets to reduce systemic risk; permit non-interest incentives such as cashback and points; improve multi-issuer models to ensure access to global stablecoin liquidity; clarify how crypto asset service providers can offer DeFi access; avoid restricting order routing to EU-only venues, which could lead to liquidity fragmentation; maintain global competitiveness in tokenization and explore DeFi's role in supporting capital market development. Coinbase expressed its eagerness to engage with the European Commission on these priorities.