Tether and Bitfinex announced Thursday that Stuart Hoegner, Bitfinex's general counsel, has retired to oversee the legal affairs of stablecoin issuers and exchanges under Michael Hilliard, as stricter regulations from the MiCA came into effect late last year. According to a statement, Hoegner and Hilliard have co-led the legal work of the two firms for several years. The leadership dynamics of the two firms changed after the European Union Crypto Asset Markets (MiCA) regulation MiCA came into full effect on December 30. MiCA establishes stricter regulatory environments for stablecoin issuers within the European Union, including reserve and liquidity authorizations. So far, Hoegner, who joined Bitfinex in 2014, according to his LinkedIn profile, has played a key role in "navigating Tether and Bitfinex through complex regulatory environments," the companies said on Thursday.