So, EURXT is here now, euro stablecoin that's supposedly MiCA-compliant. It seems like Europe is serious about getting their own stablecoins to compete, right? I mean, with all those regulations, they gotta have something to keep control...
Competition seems to be the goal, but can other stablecoins really hold their own? Tether isn’t really getting a warm welcome from the EU, which is kinda funny since so many still use it. Maybe it’s true what they say about lack of audits making people suspicious, huh?
MiCA's not gonna stop licensing companies, tho. It’s not really about private versus public stablecoins. They’re just cautious after rejecting some big players like Tether and Binance. I think they’re weighing the risks really carefully. Makes sense to me.
True, it’s healthy to have competition. Circle's EURC has been gaining traction since MiCA took a stand against Tether. We can't have just one stablecoin dominating the whole scene. But that 20 million EURXT in circulation seems low, right? What’s up with that?
Super slow move by EU, honestly. 20 million EURXT while we’ve got billions in USD stablecoins? The longer they take, the more the USD strengthens. Even central banks are saying stablecoins are boosting USD dominance. I doubt EUROXT will ever catch up, sadly.