The participants of the Next Generation and DECTA project reported that the eurostablecoin EURT, which will fully comply with the latest rules of the regulation on the regulation of crypto asset markets (MiCAR).
The EURT stablecoin is to be released on the Stellar blockchain and receive support on three more blockchain platforms. The estimated launch date for the EURT stablecoin is October 2024.
The role of Next Generation will be to manage technological components by providing solutions for the release, combustion and distribution of EURT.
According to the new EU MiCA rules, which came into force on July 1, the issue of eurostablecoins, such as EURT, is allowed exclusively to credit institutions or licensed operators within the EU. The rules define the procedure for transactions for crypto asset service providers (CASP) in accordance with the anti-money laundering and counter-Terrorism Financing (AML/CFT) regime.Earlier, Patrick Hansen, director of strategy and policy in the European Union at the American company Circle, and Dante Disparte, chief strategic Officer, said that due to the entry into force of the EU crypto asset market regulations, the coming year "will be transformative" for stablecoins, and non-compliant MiCA crypto assets should disappear from the market.