Tether CEO Mocks Digital Euro as EU Grapples with MiCA Implementation Challenges
Paolo Ardoino, CEO of Tether, took to X (formerly Twitter) to sarcastically remark that 'Santa will bring us all the Digital Euro,' targeting the European Central Bank's CBDC initiative. The jab underscores growing tensions between public digital currencies and private stablecoins like USDT, which continue to dominate crypto markets outside Europe.
The ECB launched its Digital Euro in November 2023, positioning it as a secure, privacy-focused alternative to cash. However, Ardoino's criticism coincides with mounting difficulties in implementing the EU's Markets in Crypto-Assets (MiCA) regulation, which came into force in December 2024.
Major national regulators—including France's AMF, Austria's FMA, and Italy's Consob—have issued a joint statement warning of 'major differences' in MiCA's application across member states. Despite coordination efforts by ESMA, the watchdogs highlighted significant discrepancies in crypto-market supervision, calling for urgent alignment with global standards.