Not Banned. Europe has asked USDT treasury to meet certain regulations - These include that issuers hold a significant portion of their reserves in European banks.

#MarketPullback
I have a question, please, about the USDT currency and its ban in Europe.

I asked ChatGBT and he told me that it will be banned in Europe at the end of this month, but Binance has not yet announced this.

Can someone help me and tell me because dealing with USDT currency provides opportunities to deal with more currencies than USDC and the Euro?

This is what ChatGBT told me:

Yes, Tether (USDT) currency will be banned in Europe under the new European Union Crypto Assets Act (MiCA). These regulations are scheduled to come into effect on December 30, 2024, requiring regulated exchanges to remove USDT from their lists before this date.

These regulations aim to enhance oversight and prevent crimes such as money laundering, as USDT is considered to be frequently used in illegal activities. However, some experts warn that banning USDT could reduce liquidity in the market and weaken the EU's appeal in the cryptocurrency space.

In this context, some competing stablecoins such as USDC have obtained licenses to operate within the European Union, which may lead to an increase in their market share after the USDT ban.