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