Stablecoin regulations under the European Union's Markets in Crypto Assets legislation will come into effect. These regulations will limit stablecoins to 1 million daily transactions for both off- and on-chain settlements. Major stablecoin issuers like Tether and Circle will need appropriate authorization to operate in the EU and may struggle to comply with the transaction limits. The regulations were created to prevent stablecoins from replacing the euro and safeguard the monetary system. Companies that have suspended issuance will need to submit a plan to comply with the limits before being reinstated. Circle plans to obtain an e-money license to comply with the regulations, while Tether's CEO stresses the importance of regulatory policies that protect consumers and nurture growth in the industry.