The European Union's new Markets in Crypto-Assets (MiCA) legislation has a daily transaction limit of €200 million for private stablecoins, including Tether and USD Coin. Some experts believe this could hinder the use of stablecoins, and are calling for a revision of the limits.

Legal experts suggest that regulators should reconsider the limits to prevent stifling stablecoin use, which could lead to the growth of central bank digital currencies.

While the legislation has been well-received by the crypto industry, there are concerns that it may not adequately address threats to the broader financial market. MiCA will come into effect at the end of June, with implementation beginning in 2024.