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The latest news on stablecoins
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The European Banking Authority has published "guidelines" for issuers of stablecoins under the MiCA regulatory framework

The document urges companies to prepare their business to comply with the legislation approved on April 20, which will come into force on June 30, 2024.

"The statement is intended to encourage timely preparatory actions for MiCA to mitigate the risks of potentially disruptive and abrupt business model changes at a later stage, as well as to promote convergence with supervisors and ensure consumer protection."

Under the regulator's proposal, "stablecoin" issuing organizations would need to:

Provide full disclosure to customers

Present a public business model

Establish an effective management system, including risk management

Establish a redemption mechanism and have sufficient reserves

Register with the EBA

The agency noted that the recommendations for issuers are still voluntary.

At this time, Tether decides to issue an additional billion tokens

Tether's CTO has tried to calm worried crypto investors agitated by the issuance of 1 billion USDT based on the TRON and Efirium networks

According to a spokesperson for the issuing company, "this is just a reallocation of liquidity."

In response to a post by the Whale Alert account, which warns of large-scale cryptocurrency movements, Paolo Ardoino wrote that the issuance of 1 billion USDT has been approved, but the tokens themselves have not yet been released.

These stable coins, according to the top executive, will serve as a reserve for requests to issue steyblocks and transfer tokens between blockchains.

The issuance of 1 billion USDT based on Tron showed the popularity of steiblockcoin on the Tron network and high demand - since Tether issued a large volume of tokens in advance.

USDT capitalization is growing at a faster pace. Over the past three months, the indicator has risen by $2.6 billion. At the same time, the main competitor, USDC, capitalization fell by $4.6 billion.

Is external control from the government a good thing for stablecoins?

- NO
- YES

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