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Tether CEO: EU MiCA Regulations Are "Very Dangerous" for Stablecoins, Abandoning Application Is to Protect Users

2026-07-02 02:16:32

Abstract generation in progress

Mars Finance News, according to Coin Bureau, Tether CEO Paolo Ardoino explained the reason why USDT has not applied for the EU MiCA license, stating that the regulation is "very dangerous for stablecoins." He said MiCA may force issuers to place 60% of their reserves in uninsured cash deposits at small European banks, which may not be able to handle large-scale redemptions. Ardoino believes the legislation is "poorly thought out" and stated that "skipping MiCA is to protect Tether's over 400 million users."

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