EU’s MiCA Regulations Push Tether’s USDT Off Major Crypto Exchanges
- MiCA rules force EU exchanges to delist Tether’s USDT, causing liquidity issues for crypto traders.
- Tether’s absence in the EU market pushes traders to use fiat or lower liquidity stablecoins.
- New stablecoin issuers are stepping up to fill the gap left by Tether’s removal in Europe.
The European Union’s Markets in Crypto-Assets Regulation (MiCA) is changing the region’s crypto market. Because of the new rules, some crypto exchanges in the EU removed Tether’s USDT stablecoin from their platforms.
MiCA has strict requirements for stablecoin issuers, which caused problems for stablecoins and affected liquidity in European crypto markets. With Tether’s removal, traders are using alternatives like the euro for trading, and new stablecoin issuers want to fill the gap.
MiCA Regulation and Its Impact on Tether
Bloomberg reports that MiCA requires stablecoin issuers to have an e-money license and follow the requirements.
Circle, the issuer of USDC, got its license in July, but Tether hasn’t yet. If Tether doesn’t get the license, exchanges must delist USDT by December 30. Despite Tether trying to reduce the illicit use of its stablecoin, such as i…
The post EU’s MiCA Regulations Push Tether’s USDT Off Major Crypto Exchanges appeared first on Coin Edition.
Read More
EU’s MiCA Regulations Push Tether’s USDT Off Major Crypto Exchanges
- MiCA rules force EU exchanges to delist Tether’s USDT, causing liquidity issues for crypto traders.
- Tether’s absence in the EU market pushes traders to use fiat or lower liquidity stablecoins.
- New stablecoin issuers are stepping up to fill the gap left by Tether’s removal in Europe.
The European Union’s Markets in Crypto-Assets Regulation (MiCA) is changing the region’s crypto market. Because of the new rules, some crypto exchanges in the EU removed Tether’s USDT stablecoin from their platforms.
MiCA has strict requirements for stablecoin issuers, which caused problems for stablecoins and affected liquidity in European crypto markets. With Tether’s removal, traders are using alternatives like the euro for trading, and new stablecoin issuers want to fill the gap.
MiCA Regulation and Its Impact on Tether
Bloomberg reports that MiCA requires stablecoin issuers to have an e-money license and follow the requirements.
Circle, the issuer of USDC, got its license in July, but Tether hasn’t yet. If Tether doesn’t get the license, exchanges must delist USDT by December 30. Despite Tether trying to reduce the illicit use of its stablecoin, such as i…
The post EU’s MiCA Regulations Push Tether’s USDT Off Major Crypto Exchanges appeared first on Coin Edition.
Read More