EU stablecoin reserve rules push Tether out of Europe
- —MiCA requires at least 30% of reserves in banks, rising to 60% for significant tokens
- —Tether declined a MiCA license over the 60% bank deposit rule
- —Tether's assets stood at $187.75B versus $183.64B in liabilities at end-Q2
- —Tether halted EURT issuance and exited the European market
Why it matters: Easing the rule could clear a path for Tether to seek a MiCA license, but USDT remains outside the EU's regulated framework for now.
Source: Cryptodnes