Content analysis from a legal and user perspective.
The latest statement from Tether's CEO – Mr. Paolo Ardoino – regarding non-compliance with the EU's MiCA (Markets in Crypto-Assets) regulatory framework may be controversial, but from a long-term development perspective, this is a positive signal for the improvement of global cryptocurrency regulations.
Why does Tether oppose MiCA?
According to Mr. Ardoino, the regulation requiring stablecoins to reserve 60% of assets in cash at European banks will put significant pressure on the financial system, especially on small and medium banks – which have already faced many challenges after recent liquidity crises. He warns that if forced to comply, some banks may go bankrupt in the coming years, leading to adverse consequences for users and the market.
Additionally, CEO #Tether criticized the European Central Bank (ECB) for promoting the digital euro as a tool for controlling citizens, rather than encouraging technological innovation from the free market.
Positive outlook: Crypto legislation will become increasingly clear and balanced.
Although Tether currently refuses to comply with #MiCA , this response is a necessary critique for lawmakers to better understand the specifics of crypto, enabling them to adjust policies more reasonably. Such debates are essential for the process:
Establishing a clear, transparent, and predictable legal framework.
Balancing innovation and risk control, rather than stifling development.
Protecting end users, especially in areas without strong banking systems.
Tether's participation in the debate, being one of the largest stablecoin organizations in the world, shows that industry stakeholders are proactively shaping the rules of the game, rather than avoiding them. This can promote collaboration between the private sector and regulators to create fair, flexible policies that benefit the majority of users.
In summary:
Tether's non-compliance with MiCA is not a negative signal for the crypto market; on the contrary, it is a sign that cryptocurrency law is entering a phase of deeper dialogue. Through such debates, the global legal system will become increasingly refined – a necessary step for crypto to become mainstream, safe, and accessible to billions.
Risk warning: This article is not investment advice. Crypto is a highly volatile market and may pose various legal risks. Please do thorough research before making financial decisions.
