A senior executive from Tether, the issuer of USDT, has sounded the alarm that the European Union's silence on the matter doesn't necessarily mean USDT is compliant with the Markets in Crypto-Assets (MiCA) regulation 🤔.
What is MiCA? 📜
MiCA is the EU's landmark regulatory framework for crypto-assets, aiming to provide a harmonized approach to regulating the industry across member states.
Tether's Concerns 🚨
The executive emphasized that USDT's compliance with MiCA is not guaranteed, despite the EU's lack of explicit statements on the matter. This uncertainty highlights the need for clarity and cooperation between regulators and industry players.
Implications for the Crypto Market 🌐
The EU's MiCA regulation has far-reaching implications for the crypto industry. As the first comprehensive regulatory framework for crypto-assets, it sets a precedent for other jurisdictions to follow.
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