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Tether CEO retweets criticism of MiCA's regulatory requirement to hold over 30% of Liquidity in banks
PANews December 30th news, Tether CEO Paolo Ardoino retweeted and participated in the controversial discussion on MiCA (EU encryption asset market regulations). The comments believe that requiring stablecoin issuance parties to keep more than 30% of Liquidity in banks is actually a huge support for the traditional banking system, which goes against innovation. In contrast, traditional banks only need to keep 1% of eligible deposits as reserves in the Central Bank, which is clearly unfair. In addition, the details of Circle's USDC redemption protocol in Europe have also raised more questions.