MiCA regulations could harm banks and stablecoin issuers, impacting traditional banking model

From Cointelegraph

August 9, 2024 1:00 PM:

Tether CEO Paolo Ardoino warns that recently approved MiCA regulations could be detrimental to both banks and stablecoin issuers.

The CEO believes that the regulations could result in banks losing clients to stablecoins, impacting their traditional banking model.

On the flip side, stablecoin issuers like Tether might have to comply with stricter rules, potentially affecting their operations.

Read more at Cointelegraph.: MiCA regulation poses ‘systemic risk’ to banking system, says Tether CEO