MiCA will not save us from a Stablecoin crisis. It could be building one
Europe’s landmark crypto regulation, MiCA, was intended to end the “Wild West” era of stablecoins. Proof of reserves, capital rules, redemption requirements: On paper, the framework looks reassuring. Yet, in practice, MICA does little to prevent the kind of systemic risks that can emerge when stablecoins become part of the global financial ecosystem. The irony […]
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