CoinMeta data: Tether CEO Ardoino indicates that Tether is withdrawing from Europe's MICA stablecoin framework. The reason is that this framework requires 60% of the reserves to be deposited in commercial bank accounts, which will put 400 million users at risk, as EU deposit insurance only covers up to 100,000 euros. Tether currently holds about 80% of its reserves in U.S. Treasury bonds, and MICA will force it to replace these government bonds with uninsured bank deposits. USDT was delisted from all EU exchanges on July 1st, but Ardoino states: "We may reconsider when MICA becomes more secure."