Coinbase Urges EU to Refine MiCA Rules to Boost Global Crypto Competitiveness

Coinbase’s Head of European Policy, Katie Harries, has urged the European Union to use its MiCA regulatory review as a chance to strengthen its leadership in global digital asset regulation.

As part of her recommendations, she proposed revising stablecoin reserve rules to include a higher proportion of high-quality sovereign assets to reduce systemic risk. Alongside this, she pushed for the introduction of non-interest incentives such as cashback rewards and suggested enhancing multi-issuer frameworks to improve stablecoin liquidity.

Expanding on these points, she also called for clearer regulatory guidance on crypto asset service providers’ (CASPs) access to decentralized finance (DeFi). In the same context, she cautioned against limiting order routing to EU-only trading venues, warning that such measures could lead to fragmented liquidity across markets.

She further emphasized the importance of ensuring continued global competitiveness in tokenization, while encouraging broader exploration of DeFi applications in capital market development. These remarks come as the European Commission prepares to engage with industry stakeholders in the context of the ongoing MiCA review process.

Source: Coinbase