The implementation of MiCA in the EU is seen as the most sustainable regulatory framework for cryptoassets across 27 countries, yet it poses new challenges for users.
MiCA's licensing requirements for stablecoins are meant to prevent risks like depegging but also create operational difficulties for blockchain companies attempting compliance.
Tether's CEO raised concerns about MiCA creating "systemic risk" due to high reserve requirements. He pointed to past bank failures illustrating potential dangers.
The requirement that stablecoin issuers maintain a portion of reserves in local banks has generated significant operational challenges, prompting some issuers to reconsider their EU strategies.
Collection
[
|
...
]