Tether CEO Paolo Ardoino fears EU MiCA regulation poses systemic risk to stablecoins and banks. 🏦

- MiCA requires 60% of stablecoin reserves to be held in EU bank accounts.

- Ardoino: Fractional reserve banking system vulnerable to runaways.

- EU deposits are only insured up to $100,000, not enough for large issuers like Tether.

- Example from Silicon Valley Bank's collapse in 2023.

What do you think about MiCA regulation? Comment! 💬

#Crypto#Blockchain#BTC#Finance #Regulation