Slovenian electronic money institution Dinaro d.o.o. has become the first entity from Slovenia to join the European Securities and Markets Authority's Markets in Crypto-Assets Regulation (MiCA) register as an authorized e-money token issuer. The August 2026 update brought the total number of compliant stablecoin issuers to 43. This regulatory framework, accelerated by the 2022 collapse of TerraUSD, mandates 100% backing in liquid assets and guarantees at-par redemption rights to reduce counterparty risk.
Dinaro MiCA EMT registration
- ▪Dinaro d.o.o. provides payment services, including card issuing and acquiring, and holds a Mastercard principal membership.
- ▪Dinaro d.o.o. is the first entity from Slovenia to be registered as an authorized e-money token issuer under the European Union's Markets in Crypto-Assets Regulation.
- ▪Dinaro d.o.o. has operated under an electronic money institution license from the Bank of Slovenia since at least 2020.
- ▪Slovenian electronic money institution Dinaro d.o.o. was added to the European Securities and Markets Authority's Markets in Crypto-Assets Regulation register as an authorized e-money token issuer in August 2026.
MiCA stablecoin regulatory framework
- ▪The Markets in Crypto-Assets Regulation transitional arrangements ended on July 1, 2026, requiring stablecoin issuers to achieve compliance or cease operations.
- ▪Markets in Crypto-Assets Regulation e-money token holders are guaranteed at-par redemption rights, allowing them to swap euro-pegged tokens back for fiat euros.
- ▪Under the Markets in Crypto-Assets Regulation, e-money tokens are defined as fiat-pegged stablecoins that must maintain 100% backing in low-risk, liquid assets.
EU crypto-asset register expansion
- ▪The European Securities and Markets Authority's August 2026 update added Czech lender Partners Banka and Germany's Volksbank Beilstein-Ilsfeld-Abstatt to the crypto-asset service providers register, totaling 325 companies.
- ▪The European Securities and Markets Authority's August 2026 update removed Czech company Altlift from the Markets in Crypto-Assets Regulation crypto-asset service providers register.
- ▪The European Securities and Markets Authority's August 2026 register update brought the total number of authorized electronic money token issuers to 43 entries.
TerraUSD collapse regulatory impact
- ▪The European Union's Markets in Crypto-Assets Regulation aims to reduce counterparty risk for institutional players by providing a register of compliant stablecoin issuers.
- ▪The collapse of the TerraUSD stablecoin in 2022, which vaporized approximately $40 billion in value, accelerated the legislative timeline for the European Union's Markets in Crypto-Assets Regulation.
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