đž CASE FILE #184
Tether Walked Away From Europe Over One Rule.
Tether refused to seek a MiCA license because significant stablecoins must keep 60% of reserves in commercial bank deposits. CEO Paolo Ardoino argues that replacing Treasury holdings with largely uninsured bank deposits would make USDT less safe, noting EU deposit protection is capped at 100,000 euros per depositor, per bank.
Now, European central banks themselves are proposing that the 60% rule be removed and replaced with liquidity requirements. Ardoino says Tether could reconsider if MiCA becomes "safer."
The rule that kept USDT out of regulated EU markets could now be rewritten.
Tether Walked Away From Europe Over One Rule.
Tether refused to seek a MiCA license because significant stablecoins must keep 60% of reserves in commercial bank deposits. CEO Paolo Ardoino argues that replacing Treasury holdings with largely uninsured bank deposits would make USDT less safe, noting EU deposit protection is capped at 100,000 euros per depositor, per bank.
Now, European central banks themselves are proposing that the 60% rule be removed and replaced with liquidity requirements. Ardoino says Tether could reconsider if MiCA becomes "safer."
The rule that kept USDT out of regulated EU markets could now be rewritten.
