The new MiCA mandates all firms who issue stablecoins in centralized exchanges to get an e-money license. I don't know the procedures to get the license but it seems that it might take a long bureaucratic process. European nations are just trying to protect it's citizens from the risks associated with these centralized crypto but it might have some negative effects. It will make Europe less attractive to crypto companies. Many of them might move to other friendly countries,.maybe the US and other North and south America nations.