💵 Tether refuses MiCA license and exits the European market

Tether's CEO stated that the company will not apply for the European MiCA license to "protect 400 million users" and avoid oversight from the ECB.

According to him, the new rules threaten both stablecoins and the banking system: MiCA requires holding 60% of reserves in EU banks, which could cause instability.

The ECB is more interested in promoting the digital euro as a way to control people and monitor how they spend their money.

Instead, Tether is investing in local projects that already comply with EU requirements and is preparing a new stablecoin for the US market.