#StablecoinLaw Stablecoins are cryptocurrencies whose value is tied to stable assets such as the US dollar or euro. In the EU, the MiCA regulation (effective since June 2024) comprehensively governs the issuance and use of stablecoins. Issuers must be licensed, hold full reserves, and comply with transparency obligations. There is a distinction between e-money tokens (e.g., euro stablecoins) and asset-referenced tokens. In Germany, BaFin is responsible for supervision. Internationally, the Financial Stability Board (FSB) is also working on global standards. In the USA, there is still no unified law; however, the 'Clarity for Payment Stablecoins Act' is a first draft of legislation. Stablecoins are in the spotlight of regulatory authorities worldwide to ensure financial stability and consumer protection.