## Tether and the Future of Stablecoins: A Vision from the CEO
The CEO of Tether addresses regulatory challenges and outlines the company's strategy in the global financial landscape. Here are the key points that emerged from his analysis:
**Concerns about MiCA Regulation:** The CEO expresses strong concerns regarding the MiCA (Markets in Crypto-Assets) license in Europe, defining it as "dangerous" for stablecoins and potentially harmful to the European banking system. The regulation requires stablecoins to hold 60% of reserves in uninsured bank deposits, which could lead to the failure of smaller banks in the event of significant redemption requests. For this reason, Tether has decided not to apply for the MiCA license, preferring to protect its over 400 million users.
**Importance of Stablecoins for Emerging Markets:** Tether emphasizes the crucial role of stablecoins, particularly USDT, for emerging markets where national currencies are subject to strong devaluation. For example, the Turkish lira has lost 80% of its value in the last 5 years, while the Argentine peso has suffered a loss of over 90% in the last 10 years. In these contexts, USDT offers a stable and accessible alternative. The company has recorded a growth of 46 million wallets in the last quarter, demonstrating increasing adoption.
**Countering the "De-dollarization" of the BRICS:** Tether sees stablecoins as a bulwark against the efforts of the BRICS countries to reduce dependence on the US dollar, arguing that they contribute to strengthening the dollar and countering the introduction of new currencies.
**Investments in Bitcoin:** Tether is a significant investor in Bitcoin, holding over 100,000 Bitcoin. The company supports initiatives like that of 10 to 1, which aims to build a Bitcoin-focused company with conservative risk management.
**Criticism of Regulation and the Traditional Banking System:** The CEO criticizes regulations that he considers short-sighted and the traditional banking system, which operates with fractional reserves up to 90%, while stablecoins are subject to greater scrutiny.
**Rumble in France Example:** The example of Rumble, a media streaming platform that chose to withdraw from the French market rather than comply with censorship requests, is cited, highlighting the importance of protecting freedom of speech and financial freedom.
**Long-Term Vision:** Tether aims to hold US Treasuries with short maturities convertible quickly into cash as part of its reserves, but European regulation would prevent this. The company believes that, in the long term, Bitcoin will become increasingly important, even for central banks, which are currently focused on purchasing gold.
https://s.grigio.org/shJdR