Circle’s CEO Warns of Bank Risks in European Union’s MiCA Crypto Law

Circle, a leading stablecoin issuer, advocates for changes to the European Union’s Markets in Crypto-Assets (MiCA) regulation. During a recent meeting in Brussels, CEO Jeremy Allaire expressed concerns about the law’s impact on the crypto industry. Allaire highlighted that MiCA‘s reserve requirements pose significant risks. The regulation mandates that stablecoin issuers hold 30% of their... source: https://www.thecoinrepublic.com/2024/07/17/circles-ceo-warns-of-bank-risks-in-european-unions-mica-crypto-law/