随着 MiCA 法规生效，Tether 失去与美元挂钩，引发对储备的担忧

新的 MiCA 法规要求稳定币发行人获得特定许可证才能发行与法定货币挂钩的数字货币。

Stablecoin giant Tether has (slightly) lost its dollar peg on the last day of 2022, as new EU crypto regulations come into effect and reports unfold regarding potential USDT delistings from European exchanges.

随着新的欧盟加密货币法规的生效以及有关 USDT 可能从欧洲交易所下架的报道的出现，稳定币巨头 Tether 在 2022 年的最后一天（略微）失去了与美元挂钩的地位。

The new MiCA regulations stipulate that stablecoin issuers must obtain specific licenses to continue issuing fiat-pegged digital currencies. However, Tether is yet to acquire the necessary ‘e-money license,’ which is required for any firm to issue electronic money in the EU.

新的 MiCA 法规规定，稳定币发行人必须获得特定许可证才能继续发行与法定货币挂钩的数字货币。然而，Tether 尚未获得必要的“电子货币许可证”，而这是任何公司在欧盟发行电子货币所必需的。

To obtain this license, firms must be approved by the relevant national competent authority, which will assess the applicant’s compliance with the relevant EU laws. These laws include stipulations against money laundering and terrorist financing, as well as requirements for the firm to maintain sufficient liquid reserves and provide transparent whitepapers.

要获得此许可证，公司必须获得相关国家主管当局的批准，该当局将评估申请人是否遵守相关欧盟法律。这些法律包括反洗钱和恐怖主义融资的规定，以及要求公司保持足够的流动性储备和提供透明的白皮书。

Furthermore, MiCA regulations dictate that stablecoins must maintain at least 83% of their reserves in deposits with an independent credit institution. This reserve requirement is intended to ensure the stability and liquidity of the stablecoin.

此外，MiCA 法规规定，稳定币必须将至少 83% 的储备金存入独立信贷机构。这一准备金要求旨在确保稳定币的稳定性和流动性。

However, most of Tether’s reserves are reportedly comprised of U.S. government bonds, Bitcoin, Repo agreements, money market funds, and cash and bank deposits. This composition has raised concerns among some regulators and market participants, who argue that the reserves are not sufficiently liquid or transparent.

然而，据报道，Tether 的大部分储备由美国政府债券、比特币、回购协议、货币市场基金以及现金和银行存款组成。这种构成引起了一些监管机构和市场参与者的担忧，他们认为储备的流动性或透明度不够。

In October, the Wall Street Journal reported that Tether was being investigated by the Department of Justice over its reserves. The investigation is said to be focusing on whether Tether misled investors about the use of customer funds to cover losses in the crypto markets earlier this year.

10 月，《华尔街日报》报道称，司法部正在对 Tether 的储备金进行调查。据称，此次调查的重点是 Tether 是否在今年早些时候使用客户资金弥补加密市场损失方面误导了投资者。

As the set date for MiCA regulations arrived and brought news of potential USDT delistings, the stablecoin had an unusually poor trading day on December 30. Despite being designed to maintain a 1:1 ratio with the U.S. Dollar, USDT lost its peg slightly, enduring the lowest bearish streak for the year.

随着 MiCA 法规规定日期的到来并带来了 USDT 可能下架的消息，该稳定币在 12 月 30 日的交易日异常糟糕。尽管 USDT 的设计初衷是与美元保持 1:1 的比率，但 USDT 仍略微失去了与美元的挂钩，年内最低的看跌趋势。

Data from CoinMarketCap shows USDT is currently valued at $0.9979 but reached as low as $0.9974 throughout the day. Moreover, its market capitalization took a hit of over $2 billion in the past 10 days, decreasing from around $140 billion to today’s market cap of roughly $138 billion. This marks the largest decrease in a bullish year ever for the stablecoin.

CoinMarketCap 的数据显示，USDT 目前估值为 0.9979 美元，但全天最低跌至 0.9974 美元。此外，其市值在过去10天里遭受了超过20亿美元的打击，从约1400亿美元降至如今的约1380亿美元。这标志着稳定币有史以来牛市中最大的跌幅。