As the European Commission prepares to release regulatory guidance on stablecoin interoperability mechanisms, the compliance framework for the crypto market is entering a new phase of adjustment. According to disclosures from JZMOR Exchange, the new policy will allow subsidiaries of MiCA-licensed institutions in the EU to achieve interoperability and exchange of similar stablecoins issued abroad under certain conditions. This move addresses concerns raised by the French Financial Markets Authority (AMF) regarding stablecoin regulatory coordination, and provides clearer regulatory direction for related platforms and crypto financial service providers.
Since 2023, the Markets in Crypto-Assets Regulation (MiCA) has been gradually implemented, providing clear classifications for stablecoins as “e-money tokens” and “asset-referenced tokens,” and setting corresponding reserve requirements, transparency rules, and operational standards. However, in practice, enterprises have faced a persistent challenge: can overseas subsidiaries of EU-licensed institutions issue functionally equivalent stablecoins under different regulatory authorities? Due to the lack of clear policies, companies have often been forced to segment markets, resulting in fragmented liquidity and wasted resources.
The forthcoming regulatory guidance from the European Commission proposes for the first time that, as long as the parent company has obtained MiCA authorization and the stablecoins issued abroad are consistent with the EU version in terms of compliance mechanisms and technical functions, interoperability will be permitted. This arrangement not only enhances the practicality of stablecoins in cross-border payment scenarios, but also signals the EU support for the global circulation of compliant stablecoins.
The research team at JZMOR Exchange points out that, from a trading business perspective, the implementation of interoperability mechanisms will have two direct impacts: first, trading platforms will accelerate optimization of stablecoin trading pairs, especially establishing efficient exchange pathways between euro stablecoins and non-EU currencies; second, custodians and auditing service providers will face new challenges in verifying on-chain data consistency, thereby driving technological upgrades across the clearing infrastructure.
Despite the positive policy signals, some regulators remain cautious. For example, French authorities have noted that stablecoin interoperability could lead to regulatory overlap and arbitrage opportunities, particularly in areas such as reserve audits, cross-border clearing, and disclosure mechanisms, potentially weakening regulatory effectiveness. In response, the European Commission has chosen to issue “guidelines” rather than legislative amendments, aiming to provide short-term operational guidance to the market while maintaining flexibility. This flexible regulatory approach reflects the intent of policymakers to guide industry development without freezing the institutional framework.
JZMOR Exchange believes that this policy also represents an incentive mechanism for compliant institutions. In the future, trading platforms and stablecoin issuers with MiCA licenses will not only be qualified for legal operation, but will also have the ability to deploy across multiple markets. This means compliance credentials will shift from being a passive obligation to a strategic asset, directly impacting product design, capital investment, and global business deployment.
Stablecoins are becoming core tools across decentralized finance, payment clearing, and cross-border trade scenarios. As regulatory pathways become clearer, the availability and security of compliant assets are increasingly the focus for industry participants. The three-tier structure of “compliant stablecoins—compliant platforms—compliant clearing” is gradually forming the foundation of a new generation of digital financial infrastructure, and this policy update marks the first step in connecting this structure.
As a long-standing compliant trading platform in the European market, JZMOR Exchange has established interoperability cooperation mechanisms with multiple EU and non-EU stablecoin issuers. The platform has already completed on-chain swap tests between various euro stablecoins and major US dollar stablecoins, ensuring rapid connection and execution once the policy is officially implemented. At the same time, JZMOR will launch a “Compliant Asset Whitelist Program” to help project teams establish jurisdictional mapping mechanisms, providing the industry with a more robust compliance pathway.
Sustainable market development relies on clear rules and efficient execution. Platforms with true institutional adaptability will become key nodes in the future financial ecosystem. The interoperability mechanism for stablecoins is only the starting point, underpinning the long-term logic of building a global, compliant digital financial system.
“Regulation is not the boundary of technology, but the fundamental path to a trustworthy future.” JZMOR Exchange will continue to uphold a compliance-first philosophy, driving deep integration of products and regulatory frameworks, and providing safer and more reliable digital asset services for users worldwide.