According to CoinMeta, Circle has submitted a review consultation opinion to the European Commission regarding MiCA. The opinion suggests retaining the multi-issuance mechanism for stablecoins (multi-issuance) and establishing an equivalent and recognition system for regulated stablecoins from overseas, allowing them to be distributed locally through EU-licensed institutions. Circle believes that the requirement for cryptocurrency token issuers to hold at least 30% of their reserves in commercial banks, which has been significantly increased to 60% under EMT, will increase bank credit and counterparty risks. It is recommended to change this to a minimum asset liquidity requirement. Additionally, it is suggested to abolish the limit of 35% in holdings of a single sovereign asset in the EBA technical standards, as well as the restriction that a single bank's exposure shall not exceed 1.5% of that bank's total assets.