Tether USDt

<ul><li>Tether CEO criticizes MiCA&#39;s reserve policy, which can affect the future of stablecoins in Europe.</li><li>According to the new policy a minimum of 60% stablecoin reserves are to be held under EU banks.</li><li>Ardoino warned that if the policy was implemented, it would collapse others like Silicon Valley Bank.</li></ul>Tether CEO Paolo Ardoino has shed light on the recent reserve rule of Markets in Crypto-Assets (MiCA). He stated that if the policy is implemented, it can affect stablecoins in the European market. According to a <a href="https://twitter.com/WuBlockchain/status/1822090887637475422" rel="noopener noreferrer nofollow">source</a> on X, Tether CEO said that the recently approved MiCA posed a threat to stablecoins and banks by putting a 60% cap on its policy. Ardoino emphasized that this action would complicate the structure and increase systematic risks.In a recent YouTube interview, Ardoino emphasized that many financial organizations operated under fractional reserve banking. This indicated that only a few deposits were available for withdrawal and that it made many vulnerable, leading to &#39;bank runs.&#39; Initiated on June 30, the regulations have brought strict requirements on the stablecoin management within the European Economic Area. The policy demands at least 60% of reserves to be held under EU bank accounts.<a href="https://cryptotale.org/tether-ceo-says-eus-mica-reserve-rule-threatens-stablecoins/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Tether CEO Says EU's MiCA Reserve Rule Threatens Stablecoins

CryptoTale

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