PANews reported on December 30 that Tether CEO Paolo Ardoino forwarded and participated in the controversial discussion on MiCA (EU Crypto-Asset Market Regulation). Commentators believe that requiring stablecoin issuers to deposit more than 30% of their liquidity in banks is actually a huge support for the traditional banking system and runs counter to innovation. In contrast, traditional banks only need to keep 1% of eligible deposits in the central bank as reserves, which is obviously unfair. In addition, the details of Circle's USDC redemption agreement in Europe have also raised more questions.
Tether CEO retweeted criticism of MiCA's regulatory rules requiring more than 30% of liquidity to be deposited in banks
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