▼ Bearish
Tether has opted not to apply for a MiCA license in the European Union, primarily due to the regulation's reserve rules.
CEO Paolo Ardoino expressed concerns that the rules mandate 60% of significant stablecoin issuers' reserves to be held in commercial bank deposits, which he believes diminishes the protection for stablecoins.
Ardoino stated that Tether may reconsider its decision if MiCA becomes safer for consumers and stablecoin issuers.
Reporting aggregated and summarized by CLOM — research & education, not financial advice.