According to reports from Wu, the European Commission will issue guidelines clarifying that stablecoins issued by companies holding EU licenses can be exchanged with similar tokens issued by non-EU entities. The relevant regulations will be implemented under the MiCA framework. This response addresses inquiries from French regulators regarding the homogeneity of tokens. For issuers of interchangeable tokens issued both in the EU and outside the EU, they may be required to establish a rebalancing mechanism to ensure that reserves within the EU match the number of tokens circulating in the EU.