Tether CEO: EU MiCA Regulations Are Very Dangerous for Stablecoins, Abandoning Application Is to Protect Users
2026-07-02 02:07
Odaily Planet Daily News Tether CEO Paolo Ardoino explained why USDT did not apply for an EU MiCA license, stating that the regulation is "very dangerous for stablecoins."
Ardoino said that MiCA may require stablecoin issuers to hold 60% of their reserves in uninsured cash deposits at small European banks, which may not be able to handle large-scale redemption pressure.
He believes that the MiCA legislation is "poorly considered," and Tether chose not to apply for the relevant license in order to protect its over 400 million users. (Coin Bureau)
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