I had no idea MiCA requires EU-based stablecoins to hold 60% of their reserves in uninsured bank deposits.
https://www.ledgerinsights.com/eu-stablecoin-reserves-consultation/
Discussion
Lol, smells like they’ll get rekt
Central banks could entirely remove the risk of this all collapsing over bank failures by offering zero risk euro accounts... They're obviously not going to do that to prop up the banking industry.
