Tether CEO Paulo Ardoino said that the upcoming regulatory framework in Europe will create significant banking concerns for stablecoin issuers, which could threaten the stability of the broader cryptocurrency sector. The Crypto Asset Market Supervisory Authority (MiCA) is the first comprehensive regulatory framework for the crypto industry, which will come into full effect on December 30. According to MiCA, stablecoin issuers must hold at least 60% of the reserve assets of European banks.