MiCA Takes Full Effect in EU, Stablecoin Competition Heats Up This Week

According to BlockBeats, on July 5, the crypto industry is focused on regulatory and stablecoin developments. The European Union's Markets in Crypto-Assets Regulation (MiCA) transition period has officially ended, requiring all EU crypto service providers to obtain MiCA licenses to continue operations.

Meanwhile, the newly launched Open USD (OUSD) has garnered significant attention. Backed by over 140 institutions including Visa, Mastercard, Stripe, Coinbase, BlackRock, and BNY, the stablecoin is positioned to challenge existing players like USDC through its distribution network.

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