Circle's CEO Rings Alarm Bells Over Bank Risks in MiCA Rules
full version at dailycoin
Circle CEO has warned MiCA’s reserve rules will pose major bank risks. Circle has struggled to maintain stable banking amid regulatory changes. Circle has adapted to dual issuance to comply with the EU’s MiCA law. Circle, the powerhouse behind the second-largest stablecoin USDC, is sounding the alarm on the European Union’s landmark crypto regulation, MiCA. In a recent meeting with EU policymakers, CEO Jeremy Allaire expressed grave concerns about the law's potential to destabilize the industry. At the heart of Circle’s worries are MiCA’s reserve requirements. These rules mandate that stablecoin issuers hold a significant portion of their assets
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