| Time | Details |
|---|---|
| 2024-12-29 19:33 |
MiCA's Impact on Stablecoin Issuers and Traditional Banks
According to Paolo Diomede, the Markets in Crypto-Assets (MiCA) regulation is largely beneficial to the traditional banking system. It mandates stablecoin issuers to maintain over 30% of their liquidity in banks, which potentially increases profits for legacy financial institutions. This regulation appears to favor the established financial system over fostering innovation within the crypto space. (Source) |
| 2024-12-29 19:33 |
MiCA Regulation Criticized as Favoring Traditional Banks
According to Paolo Diomede, the Markets in Crypto-Assets (MiCA) regulation is seen as a substantial advantage for traditional banking institutions. The regulation mandates that stablecoin issuers must hold over 30% of their liquidity in banks, which is perceived as a move to ensure increased profits for these legacy financial players. This regulation is criticized for being designed to benefit the existing financial system rather than fostering innovation within the cryptocurrency sector. (Source) |