Tether opts out of EU stablecoin regulation’s license over 60% bank rule - The Cryptonomist

Tether has chosen not to pursue a license under the European Union's Markets in Crypto-Assets (MiCA) framework, according to The Cryptonomist. The decision is tied to a requirement that stablecoin issuers hold at least 60% of their reserves in EU-regulated bank deposits — a condition Tether has reportedly declined to meet.

For market observers, the move matters because it signals how the EU's stablecoin rules may reshape where large issuers operate. MiCA's reserve requirements are designed to strengthen backing and reduce risk, but they can also push issuers toward different jurisdictions or structures. Tether's choice raises questions about access and liquidity for EU-based users of its tokens.

What to watch next: how EU exchanges and platforms adjust their stablecoin offerings, whether other major issuers follow or comply, and how regulators respond. The episode also highlights the broader tension between global stablecoin operations and region-specific reserve standards — a theme likely to persist as more jurisdictions draft their own rules.