[Circle Proposes EU Amend MiCA Rules for Offshore Stablecoins, Remove Bank Deposit Reserve Requirements] Odaily Planet Daily News: USDC issuer Circle has submitted a proposal to the European Commission, advocating for amendments to the rules concerning offshore stablecoins in the Markets in Crypto-Assets Regulation (MiCA) and the establishment of a recognition mechanism for offshore issuers. Circle suggests that offshore stablecoin issuers should primarily be regulated by the regulatory authorities in their jurisdiction of registration. After obtaining equivalence recognition from relevant parties and the European Banking Authority (EBA), distribution would be handled by licensed institutions within the EU. This mechanism would also allow euro-denominated stablecoins to circulate in offshore jurisdictions. Additionally, Circle has requested the removal of the requirement for electronic money token issuers to deposit 30% of reserve assets in commercial banks, with the proportion for "significant" electronic money tokens set at 60%. The company believes this requirement increases exposure to credit risk and counterparty risk within the banking sector. (Bitcoin.com News)