According to PANews, Tether CEO Paolo Ardoino participated in the controversial discussion about MiCA. Commentators pointed out that requiring stablecoin issuers to deposit more than 30% of their liquidity in banks is a support for traditional banks and runs counter to innovation.
In contrast, traditional banks only need to keep 1% of eligible deposits as reserves at the central bank, which is obviously unfair. In addition, the details of Circle's USDC redemption agreement in Europe have also raised more questions.
