Tether CEO: EU MiCA regulation contains some 'problematic' requirements

Tether CEO Paolo Ardoino said that the EU's Marketplace for Crypto Asset Regulation (MiCA) regulation “contains several problematic requirements. These requirements not only have the potential to make the work of stablecoin issuers extremely complex, but also to make EU-licensed stablecoins extremely vulnerable and operationally risky,” he said. As with any regulatory framework of this scale, further discussion of the technical implementation criteria is essential to provide clarity to the market on certain requirements.” According to MiCA, in order to be a regulated stablecoin provider in the EU, an issuer must have an electronic money institution (EMI) license.Ardoino said Tether has engaged extensively with its European exchange counterparties on the requirements, including those related to the continued listing of USDt and other Tether tokens, as well as an explanation of key regulatory provisions. Interpretation.