USDT IS BANNED IN EUROPE: WHAT SHOULD INVESTORS DO?
Within the scope of the European Union (EU) Crypto Asset Markets (MiCA) regulations, stablecoins such as Tether (USDT) are on the agenda to be banned in Europe. MiCA is a framework established to regulate and supervise crypto assets and requires stablecoin issuers to meet certain licensing and compliance requirements in order to operate in the EU.
Due to USDT’s failure to meet these requirements, it is expected to be removed from crypto exchanges in Europe as of December 30, 2024. This may require investors to re-evaluate their portfolios and turn to alternative stablecoins. MiCA-compliant stablecoins, such as USD Coin (USDC), in particular, can be a safe haven for investors.
Tether CEO Paolo Ardoino stated that the company focuses on the practical use of USDT and Bitcoin, and that negative news can be considered a positive signal for its tokens.
In light of these developments, investors may review their portfolios and consider switching to stablecoins that are compliant with MiCA regulations. In addition, it is important to closely follow the regulations in the crypto asset market and be prepared for possible future changes.
As a result, the new regulations of the EU lead to significant changes in the crypto asset market. It is critical for investors to adapt to these changes and organize their portfolios accordingly in order to minimize possible risks.
