Warum sich die Tether weigert, MICA einzuhalten (die EU-Märkte in der Regulierung von Krypto-Assets)
https://ecency.com/hive-167922/@justmythoughts/why-tether-refuses-to-comply
Warum sich die Tether weigert, MICA einzuhalten (die EU-Märkte in der Regulierung von Krypto-Assets)
https://ecency.com/hive-167922/@justmythoughts/why-tether-refuses-to-comply
6 Kommentare
tldr; Tether has decided not to comply with the EU’s Markets in Crypto-Assets (MiCA) regulation, citing concerns over restrictive requirements and potential risks to the European banking system. MiCA mandates stablecoins like USDT to hold 60% of reserves in European banks, but Tether prefers U.S. Treasuries for liquidity. CEO Paolo Ardoino criticized MiCA for potentially increasing system fragility and promoting the digital euro, which he views as a tool for financial control. Some exchanges have delisted USDT in the EU as a result.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Good move from Tether! Fuck EU regulators
Well because then it would be clear that they don’t have the money they print backed.
No worries. Zephyr protocol will make it all irrelevant and obsolete.
At least some of that article is just plain wrong. USDC is MiCA compliant and I doubt Circle keeps 60% of its reserves in EU banks.
Imagine having 60% of reserves in cash in one or multiple banks
– in case of massive outflows like already happened with FTX. The result is that the bank might probably go bankrupt.
– banks have limit to the amount of cash that is insured.
So basically your stable coin is not backed.
Theter survived the largest bank run in history, the FTX fall, and did so keeping its peg (kind of) and was able to meet all it’s obligations. This requirements only make everything fragile.