This regulatory framework for stablecoins results from a joint collaboration between the European Banking Authority and the European Securities and Markets Authority.
The European Union (EU) financial regulators want to add more stablecoin regulation guidelines under the Markets in Crypto-Assets (MiCA) regulatory framework by publishing draft regulatory standards for issuers of stablecoins when dealing with complaints.
The Regulatory Technical Standards (RTS) issued protocols on March 13 for efficiently and equitably resolving complaints by asset reference token (ART) holders. These guidelines detail the procedures and standards for stablecoin issuers to effectively manage complaints.
The European Banking Authority (EBA) document said:
