Circle challenges MiCA: a requirement to hold 60% reserves of stablecoins in EU banks — a direct threat to the yield of DeFi protocols. If regulators push this rule through, liquidity will leave European pools. BTC is currently $84,576, and the market is under pressure. Stablecoin regulation is the next systemic risk.

What do you think: will MiCA kill DeFi in Europe or will the market find a workaround?

$BTC $USDC #DeFi #Regulation