Why Tether refuses to comply with MiCA
Tether rejects the EU’s MiCA rules, arguing that they threaten financial stability and privacy and detract from serving users in high-need regions like Turkey and Nigeria.
The EU’s new Markets in Crypto-Assets regulation, better known as MiCA, is the first major attempt by a global economic power to create clear, region-wide rules for the crypto space, and stablecoins are a big focus.
MiCA mandates best practices. If a stablecoin is going to be traded in the EU, its issuer has to follow some stringent rules:
