EU MiCA rules pose ‘systemic’ banking risks for stablecoins, says Tether CEO

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News, Announcements

Europe’s forthcoming regulatory framework will introduce banking concerns for stablecoin issuers that could threaten the stability of the broader crypto space, according to Paulo Ardoino. The Markets in Crypto-Assets Regulation (MiCA) is the first comprehensive regulatory framework for the crypto industry and is set to go into full effect on 30 December. Under MiCA, stablecoin […]

Tether plans to launch a UAE dirham-pegged stablecoin

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Announcements, News

Tether plans to launch a new stablecoin pegged to the United Arab Emirates dirham in collaboration with Phoenix Group and Green Acorn Investments, reports The Block. According to a press release, the token will “lead the way in seeking licensing under the UAE Central Bank’s recently announced Payment Token Services Regulation.” According to Tether, the […]

Tether CEO: Stablecoin competition crucial for regulatory engagement

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Announcements, News

Ripple’s move to launch its own stablecoin could add further legitimacy to the stablecoin landscape, according to Tether CEO Paolo Ardoino, reports Cointelegraph. Speaking to Cointelegraph during Paris Blockchain Week, Ardoino said the stablecoin ecosystem needs healthy competition between big players to further legitimize the utility of fiat-backed tokens in the eyes of regulators. “First […]