Tether CEO Paolo Ardoino said the company has not applied for a license under the European Union’s Markets in Crypto-Assets (MiCA) framework, arguing the regulation is “very dangerous” for stablecoins.
According to ChainCatcher, Ardoino said MiCA could force stablecoin issuers to hold 60% of their reserves as uninsured cash deposits in smaller European banks, which he said may be unable to handle large-scale redemptions.
Ardoino described the legislation as poorly considered and said Tether’s decision to skip MiCA was intended to protect its more than 400 million users.
Tether CEO Paolo Ardoino Says USDT Has Not Sought an EU MiCA License
2026-07-02 02:15:12
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