EU MiCA vs US GENIUS: Diverging Stablecoin Rules

[etfs]

The EU’s MiCA framework mirrors some GENIUS Act provisions but requires most reserves to stay in EU banks — potentially introducing banking concentration risks.
Experts warn MiCA could accelerate industry consolidation, raising compliance and capital barriers for smaller issuers, while U.S. rules aim to reinforce dollar liquidity and global dollar usage.

[Nahid Hossen]

Regulatory differences may fragment stablecoin operations across regions.

[The_Walking_Dead]

MiCA may solve one set of risks but creates another — concentrating reserves in EU banks shifts systemic exposure rather than eliminating it.

[Capybara_Capybara]

Regulation is shaping the market more than technology at this point.

[Revenant]

We’re entering a world where stablecoin issuers must choose between regulatory compliance and operational flexibility. Not everyone will survive that trade-off.