According to Odaily, Tether's CEO, Paolo Ardoino, has voiced concerns about the European Union's crypto asset market regulation, known as MiCA. He stated that the regulation contains several problematic requirements that could not only complicate the work of stablecoin issuers but also make EU-approved stablecoins extremely vulnerable and increase operational risks.
Like any regulatory framework of this scale, Ardoino emphasized the importance of further discussions on technical implementation standards to clarify certain provisions for the market. Under MiCA's rules, to become a regulated stablecoin provider in the EU, issuers must have an Electronic Money Institution (EMI) license.
Ardoino revealed that Tether has had extensive contact with its European exchange trading counterparts regarding these requirements. This includes requirements related to the continued listing of USDt and other Tether tokens, as well as interpretations of key regulatory provisions.