$BTC **๐จ Tether CEO Criticizes EU Stablecoin Rules ๐จ**
๐ **Regulatory Concerns**
Tether CEO Paolo Ardoino has raised concerns over **EU stablecoin regulations**, warning they could **increase banking risks**.
๐ฅ **Key Issues**
- **60% of reserves** must be in **uninsured bank deposits**, raising systemic risk.
- **Major banks** like UBS **arenโt integrating stablecoins**, forcing issuers to rely on smaller banks.
- **Potential bank failures** could result from high-risk loans tied to these regulations.
๐ก **Industry Impact**
Ardoino argues these rules **could destabilize stablecoins**, making them **riskier to operate** in Europe.
๐ **#Tether #Stablecoins #CryptoRegulation**
