TechFlow news, October 10 — According to Cointelegraph, as the European Union's Markets in Crypto-Assets Regulation (MiCA) draws near implementation, the regulatory status of the stablecoin USDT in Europe remains uncertain. The European Securities and Markets Authority (ESMA) has remained silent on whether USDT complies with MiCA regulations.
An ESMA spokesperson told Cointelegraph that they are aware the implementation of Chapter III ("Asset-Referenced Tokens") and Chapter IV ("E-Money Tokens") of MiCA has raised questions among market participants, particularly regarding the impact of unlicensed stablecoin issuers on crypto-asset service providers' activities. ESMA is actively discussing with members and stakeholders how best to address these issues.
Tether CEO Paolo Ardoino believes certain aspects of MiCA could introduce new risks to local banking infrastructure and to stablecoins themselves.
