Ethena Labs離開德國，丟棄MACAR許可追求

Ethena Labs已正式退出了德國，不再尋求MACAR許可。該退出是在將Stablecoin操作轉移到其離岸實體的幾週後。

Ethena Labs has pulled out of Germany and is no longer seeking MiCAR licensing, the issuer of USDe stablecoin disclosed. The exit, which comes weeks after shifting stablecoin operations to its British Virgin Islands (BVI) entity, signals industry discomfort around Europe's strict crypto regulations.

USDE Stablecoin的發行人透露，Ethena Labs已退出德國，不再尋求Micar許可。該出口是在將Stablecoin運營轉移到其英屬維爾京群島（BVI）實體幾週後，這表明歐洲嚴格的加密法規中的行業不適。

Why Did Ethena Labs Exit Germany and Drop MiCAR License?

Ethena Labs為什麼退出德國並刪除MACAR許可證？

Ethena Labs為什麼退出德國並刪除MACAR許可證？

The issuer of USDe stablecoin has reached an agreement with BaFin, the country’s financial regulator to shut down its German subsidiary, Ethena GmbH.

USDE Stablecoin的發行人已與該國的金融監管機構Bafin達成協議，以關閉其德國子公司Ethena GmbH。

In a recent post on X, Ethena disclosed that since March 21, no minting or redemption of USDe took place through its German entity. Instead, Ethena (BVI) Limited has assumed full operational control, processing all activity without disruption.

埃塞納（Ethena）在最近的一篇關於X的文章中透露，自3月21日以來，USDE沒有通過其德國實體進行造幣或贖回。取而代之的是，Ethena（BVI）有限公司已經採用了完全的操作控制，處理所有活動而不會中斷。

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In its official statement, the crypto firm clarified that all previously whitelisted users in Germany have been seamlessly onboarded to the BVI-based platform at their request, leaving Ethena GmbH with no direct customers or ongoing operations.

這家加密貨幣公司在其官方聲明中澄清說，德國所有以前的白名單用戶都按照他們的要求無縫地登機到基於BVI的平台上，而Ethena GmbH則沒有直接客戶或正在進行的操作。

While Ethena offered no specific reason, market observers point to MiCAR’s strict compliance demands as a key deterrent for firms that prioritize speed, flexibility, and privacy.

儘管Ethena沒有提供具體的原因，但市場觀察家指出，Micar嚴格的合規性要求是對優先級速度，靈活性和隱私優先級的公司的關鍵威懾。

How Strict is Europe’s MiCAR Regulation Proving to Be?

歐洲的質量法規被證明是多麼嚴格？

歐洲的質量法規被證明是多麼嚴格？

Ethena’s exit aligns with a broader trend of crypto firms reassessing their European strategy as MiCAR enforcement nears. The difficulty in meeting MiCAR’s requirements was also highlighted by Circle executive Patrick Hansen, citing ESMA figures as of April 14, reported only 11 stablecoin issuers and 15 crypto-asset service providers (CASPs) had received MiCA licenses across the entire European Economic Area (EEA).

Ethena的退出與加密貨幣公司的更廣泛趨勢相吻合，因為MICAR執法臨近，重新評估其歐洲戰略。 Circle執行帕特里克·漢森（Patrick Hansen）也強調了滿足MICAR要求的困難，截至4月14日，ESMA數字報告說，只有11名Stablecoin發行人和15個加密資產服務提供商（CASP）在整個歐洲經濟領域（EEA）獲得了雲母許可證。

Related: Ethena USDe Stablecoin Surges 72%—Tether’s Market Lead at Risk

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Hansen emphasized that without a MiCA license, crypto firms cannot offer their services across the 30 countries in the European Economic Area (EEA).

漢森強調，如果沒有云母許可證，加密貨幣公司就無法在歐洲經濟區（EEA）的30個國家 /地區提供服務。

In more signs of increasing enforcement, Italy’s financial authority, CONSOB, was also seen adding 15 names to its list of non-compliant entities, under the new framework.

在更大的執法跡像中，在新框架下，也看到意大利的財務權力Consob在其不合規實體列表中添加了15個名稱。

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