$BSW $DATA $WCT Europe has created such strict conditions for cryptocurrency companies that major players prefer to leave the European market as soon as the MiCA rules came into effect. In particular, Tether, the issuer of the USDT stablecoin, stopped issuing the coin pegged to the euro and preferred to focus on the Asian region. The company Ethena attempted to obtain a MiCA license for issuing stablecoins but was denied and immediately left the continent.

Such a reaction from the crypto industry has prompted regulators to reconsider their position. According to Reuters, the European Commission may ease MiCA's requirements for stablecoins, allowing companies to offer interchangeable tokens to Europeans: if a company issues a token for the EU and its global version, it will be able to offer both assets to Europeans as equivalent. Nevertheless, the licensing process will still remain strict.