Wu Blockchain has learned that Circle has submitted its consultation response to the European Commission regarding the MiCA review. Circle recommends retaining the Multi-Issuance model for stablecoins, allowing global stablecoins to be jointly issued by MiCA-authorized EU entities and regulated entities outside the EU. Additionally, Circle proposes establishing a long-term “equivalence and recognition” system for foreign stablecoins. Circle also suggests reconsidering the requirement for EMT issuers to hold at least 30% of reserves in commercial banks and increasing the threshold for significant EMTs to 60%. Instead, they propose implementing minimum asset liquidity requirements and removing the 35% cap on single sovereign assets and the 1.5% limit on single bank exposure relative to the bank's total assets. The above recommendations reflect Circle’s suggestions for the MiCA review and are not new regulations passed by the EU. https://www.(wublock123.com)/news/circle-response-mica-review-endorse-equivalent-recognition-foreign-stablecoins-relax-reserve-rules-69431