Tether is concerned about the new regulation of stablecoins in the EU

According to the CEO of the company, Paolo Ardoino, the requirements of the MiCA bill create additional risks and make stablecoins vulnerable.

Ardoino noted that Tether is actively working with its exchange counterparties in Europe on requirements, including those related to the ongoing listing of the USDT stablecoin and the interpretation of key regulatory provisions.

I would like to remind you that from June 30, some stablecoins that do not comply with the new MiCA draft law will be banned on the territory of EU countries. Operators are subject to a number of requirements — obtaining a license, disclosing information to customers, sufficient reserves, etc.

👉Binance has announced the limitation of support for unregulated assets in its products for customers from the EU.

👉Previously, the OKX exchange suspended support for USDT pairs in Europe.

👉The Kraken exchange is also thinking about similar measures. $USDT