Tether ‘concerned’ by EU’s ‘problematic’ MiCA stablecoin requirements, says CEO | Headlines | News | CoinMarketCap
06/05/2024 02:08
Following Binance's announcement that it would begin restricting access to "unauthorized" stablecoins in Europe by the end of the month, …
The Block Crypto News31 minutes ago
Foresight
Bank
Richard
Block
CEO
Published on June 04, 2024 18:36 GMT+00:00edited on June 04, 2024 18:39 GMT+00:00
Following Binance's announcement that it would begin restricting access to "unauthorized" stablecoins in Europe by the end of the month, Tether CEO Paolo Ardoino expressed concern about the European Union's Markets in Crypto-Assets Regulation (MiCA) and its impact on stablecoins.
"Tether has been actively involved in regulatory technical standards consultations over the past months and remains concerned that MiCA contains several problematic requirements," Ardoino told The Block. "These requirements could not only render the job of a stablecoin issuer extremely complex but also make EU-licensed stablecoins extremely vulnerable and riskier to operate. As with any regulatory framework of this scale, further discussions on the technical implementation standards are …