$BTC $SOL #$BTC #DEX 😨 - Tether is worried about the arrival of MiCA! - News from 06/05/2024

But also: FTX finds an agreement with the US tax authorities, the EUR-L stablecoin throws in the towel and StarkWare wants to revolutionize the use of Bitcoin

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JUN 5

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🔥 THE BURNING NEWS OF THE DAY

Tether concerned about MiCA coming into force

Following Binance's announcement to restrict access to "unauthorized" stablecoins in Europe from June 30, Tether CEO Paolo Ardoino then expressed concerns about the impact of the EU MiCA regulation.

Richard Teng, CEO of Binance, clarified that unauthorized stablecoins will not be removed but their availability will be limited for European users. OKX and Kraken are also examining the impact of MiCA, with Kraken considering delisting USDT.

Tether is talking to regulators about capital reserve requirements, emphasizing that uninsured cash deposits are risky. Tether remains optimistic about the implementation of MiCA, but emphasizes the need for balanced policies to protect consumers and foster industry growth.