đ¨ Crypto News Flash! đ¨
Tether CEO Paolo Ardoino raises alarms over Europeâs new MiCA regulations on stablecoins. MiCA demands 60% of reserves in non-insured cash deposits, which Ardoino argues could pose systemic risks to banks. He draws parallels to Circleâs 2023 incident with Silicon Valley Bank, where $3B of USDC reserves were stuck. Ardoino warns this could lead to liquidity crises and potential bank bankruptcies. đ¸
Do you think MiCAâs regulations are too strict? Share your thoughts in the comments! đ
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