Tether Says MiCA’s 60% Reserve Rule Drove EU Exit as ECB Seeks Change

TLDR: Tether says MiCA’s 60% bank-deposit rule was a key reason it declined to seek authorization in the EU. MiCA requires significant stablecoins to keep at least 60% of reserve funds in commercial bank deposits. Tether reported $184.6B in USDT outstanding, with assets exceeding liabilities by about $4.11B in Q2. EU central banks now want [...]

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