On 7 July 2026, the European Parliament adopted a resolution on digital assets, addressing challenges to the competitiveness and integrity of the EU's financial system. The text, approved in plenary, synthesises findings from EU bodies and international organisations, providing policy guidance to the Commission, Member States, and supervisors on the future regulatory direction for crypto-assets, tokenisation, and stablecoins.
The resolution supports a long-term, activity-based, and technologically neutral regulatory framework for EU financial services. It calls on the Commission to assess the necessity and feasibility of regulating crypto-asset lending, borrowing, staking, non-fungible tokens, and decentralised finance under the Markets in Crypto-Assets Regulation (MiCAR). The Parliament urges effective enforcement of MiCAR and asks Member States to refrain from introducing additional requirements beyond MiCAR or the Transfer of Funds Regulation. It stresses strengthening data capabilities on leverage in the crypto industry and interlinkages with non-banking financial institutions, and calls on EBA, ESMA, AMLA, and other authorities to strengthen supervisory dialogue on significant multi-function groups.
The resolution expresses concern about crypto-assets being used to evade AML/CFT regulations and sanctions, calling for strengthened supervisory tools and enforcement. It urges the Commission to facilitate and encourage tokenisation across financial services, insisting on interoperability and preventing fragmentation. Noting with concern the expansion of US dollar-denominated stablecoins, the Parliament encourages euro-denominated e-money tokens under MiCAR and stresses the need for legal certainty on multi-issuance of stablecoins by EU and non-EU entities with robust prudential safeguards. The resolution welcomes the provisional agreement on payment services directives and simplified authorisation for MiCAR-authorised crypto-asset service providers, and calls for common technical standards for digital assets, smart contracts, and digital identities. It also supports ongoing discussions on the digital euro and DLT projects for wholesale central bank money settlement.
The resolution reinforces the EU's position as a first-mover in crypto-asset regulation while signalling the need for targeted MiCAR revisions. It aims to safeguard EU monetary sovereignty against US dollar-denominated stablecoins and promotes the euro's international role through euro-denominated e-money tokens. The text encourages tokenisation to support the Savings and Investment Union objectives, reduce market fragmentation, and enhance cross-border investment. It calls for strengthened supervisory capabilities, international coordination on global stablecoin standards, and reduced dependence on non-EU DLT infrastructure providers. The resolution also supports developing a digital euro and wholesale CBDC solutions interoperable with DLT infrastructures, potentially reshaping EU payment and capital market infrastructure.
The resolution is a formal institutional position that will guide the Commission in future legislative proposals and revisions to MiCAR. It also sets the Parliament's stance for potential trilogue negotiations on related files. The Commission is expected to respond to the resolution's calls in upcoming legislative initiatives.