BitGo CEO Mike Belshe is warning that the Europe Union’s MiCA framework could trigger a “massive stablecoin crisis” if major crypto USD-backed issuers fail to meet the bloc’s compliance requirements before the July 1, 2026 enforcement deadline.
The warning lands at a moment when exchanges operating in the EU are already evaluating which tokens survive the regulatory cut.
Belshe’s concern centers on what happens when non-compliant stablecoins, primarily Tether’s USDT, face mass delisting across EU platforms simultaneously.
The result, he argues, would not be an orderly market transition. It would be a liquidity crisis.
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