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BREAKING: Tether rejects EU MiCA license.
Tether CEO Paolo Ardoino says the company deliberately chose not to apply for an EU MiCA license, calling the regulation "very dangerous" for stablecoins.
* Ardoino argues MiCA could require issuers to hold 60% of reserves in uninsured cash deposits*at smaller European banks.
* He warns those banks may struggle during large scale redemptions.
* Tether says skipping MiCA is intended to protect its 400M+ USDT users.
* The company maintains the regulation is "poorly thought out."
The debate over stablecoin regulation in Europe is far from over
#CirclePlunges17% #StrategyBuyback #WarshEndsForwardGuidance of $BTC