The MiCA requirement of 60% uninsured deposits is truly absurd, locking users' funds into small banks. Who will cover the fallout if something goes wrong? Paolo skipping this round is a lifesaver.

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CoinNetwork
Coin World News, Tether CEO Paolo Ardoino stated that Tether has not applied for a MiCA license because it is very dangerous for stablecoins. He noted that the relevant rules could force issuers to place 60% of their reserves in "uninsured cash deposits" at small European banks that cannot handle redemptions. He described this as a "poorly considered legislation" and added that he "skipped MiCA to protect over 400 million Tether users."
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