Stablecoin Reporting Obligations: MiCAR E-Money Tokens and the PSD3 Shift
Last updated: June 2026 A euro stablecoin looks like a payments product and behaves like one. The reporting file behind it does not. The moment an issuer puts a fiat-referenced token into circulation in the EU, it sits inside banking or e-money authorisation, and for many tokens it also picks up a quarterly supervisory return…