Oga Kpatakpata for Tether warn say EU Stablecoin rules and how dem control money dey make digital Euro take over
Paolo Ardoino, wey be CEO for Tether, don raise serious alarm about new new rules wey European Union (EU) dey bring out for stablecoins, including strict rules for reserve money and how money dey move. For interviews and public talk wey e do recently, Ardoino criticize the rule wey EU wan bring out say stablecoins must keep 60% of their reserve money as cash wey no get insurance for European banks. E talk say this one fit cause money wahala and make banks get yawa like wetin happen to Silicon Valley Bank. E warn say Spain don start new rule for money movement wey say if you no report cash withdrawal wey pass €150 inside 24 hours, dem go fine you €3,000. This one fit reduce money flow and show say government dey watch crypto market more for Europe. Ardoino and other crypto big boys see these steps as something wey go make the digital euro come out faster and people fit start using am, and e go also affect how stablecoins like USDT dey used and moved. For people wey dey trade crypto, these things mean say stablecoins and European banks wey dey work with dem fit face more government wahala. E fit also make people start liking central bank digital currencies more, and make dem get more interest for digital money wey no belong to any government as government dey control money movement more.
Neutral
De tori wey dem bring come talk say EU regulations don tight and dem don put new capital controls. Dis ting don make pipo no sure about stablecoins like USDT and European bank dem wey dem dey work with. Dem talk say dis rules go fit make market risk and how easily dem go fit change moni increase for short time, but for now, no waka come for USDT price, whether good or bad. Dis change go fit make pipo talk more about adopting digital euro and digital assets wey no belong to any government. But, if dem no ban am or change policy drastically, de effect na mostly about rules and how pipo feel, e no go make de price go up or down sharply for now. Traders suppose still dey sharp look out for any new policy, but for now, de effect no be anything.