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MiCA requirements tie stablecoin reserves to fractional banks, Mike Belshe warns
Mike Belshe raises concerns about the impact of MiCA regulations on stablecoin issuers. According to Belshe, the rules require these issuers to hold reserves in fractionally reserved bank deposits, creating a direct connection between crypto markets and traditional banks.
He notes that any instability in the banking sector can directly affect stablecoin reserves, potentially making crypto assets more vulnerable to traditional financial system risks.
Belshe has previously highlighted Bitcoin as hard money that cannot be printed, describing it as a macro-level alternative to traditional currencies in a recent commentary. He also remarked that moving away from easy money policies, as advocated by Warsh, could benefit financial markets, according to a separate post. These views provide context for his concerns about financial stability and regulatory measures affecting crypto assets.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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