Golden Finance reported that Tether and Bitfinex announced on Thursday that with the stricter regulations of MiCA coming into effect at the end of last year, Bitfinex's General Counsel Stuart Hoegner has retired, with Michael Hilliard taking over the legal affairs of the stablecoin issuer and exchange. According to a statement, Hoegner and Hilliard have co-led the legal work for both companies for several years. The EU's Markets in Crypto-Assets (MiCA) regulation took full effect on December 30, leading to changes in the leadership dynamics of both companies. MiCA establishes a stricter regulatory environment for stablecoin issuers within the EU, including reserve and liquidity requirements. The two companies stated on Thursday that Hoegner has played a key role in 'guiding Tether and Bitfinex through a complex regulatory environment' so far. According to Hoegner's LinkedIn profile, he joined Bitfinex in 2014.