Tether CEO: EU's MiCA regulations pose "systemic" banking risk to stablecoins
Tether CEO Paulo Ardoino stated that the upcoming regulatory framework in Europe will bring significant banking concerns to stablecoin issuers, which could threaten the stability of the broader cryptocurrency field. The Markets in Crypto-Assets (MiCA) is the first comprehensive regulatory framework for the crypto industry and will come into full effect on December 30th. According to MiCA, stablecoin issuers must hold at least 60% of reserve assets in European banks.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
USDT is officially launched on Aptos
Solana's market value surpasses PayPal
JUP's market value surpasses SEI