Tether CEO: EU MiCA Regulations Are Very Dangerous for Stablecoins, Abandoning Application to Protect Users
2026-07-02 02:07
Odaily Planet Daily News: Tether CEO Paolo Ardoino explained why USDT has not applied 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 be unable to cope with large-scale redemption pressure.
He believes that the MiCA legislation is "poorly thought out," and Tether's decision not to apply for the relevant license is to protect its more than 400 million users. (Coin Bureau)
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