MICA.
63,925 views
7 Discussing
Hot
Latest
$USDT is getting banned đ«What to do now ?
Tether (USDT), the worldâs largest stablecoin with a staggering market cap of $139.7 billion, is facing an EU-wide delisting under the new MiCA (Markets in Crypto Assets) regulation on December 30, 2024. This move might seem surprising given USDT's massive influenceâit's not just larger than competitors like Circle's USDC (4x smaller), but also surpasses the valuation of giants like Nike and UPS. It's heavily relied upon globally, from Argentine tech contractors paid in USDT to institutional investors using it for quick USD swaps.
So, why is it being outlawed in the EU?
MiCA aims to introduce transparency and consumer protection to the crypto market. Under its framework, stablecoins like USDT, classified as Electronic Money Tokens (EMTs), must secure licenses as credit or electronic money institutions and submit a compliant crypto-asset whitepaper. However, Tether has not taken these steps, making it non-compliant and effectively outlawed in the EU.
The consequences could be significant: reduced liquidity, heightened volatility, and a gap for institutional players seeking regulatory clarity. On the other hand, Circleâs USDC has proactively embraced MiCA by securing an E-Money License in Paris. This move positions USDC as a safer, EU-compliant alternative for users and investors.
This shift presents an opportunity for the growth of Euro-denominated stablecoins and greater adoption of USDC. MiCA lays the groundwork for developing institutional-friendly web3 solutions, but Tetherâs non-compliance raises questions. Did Tether misjudge the EU marketâs importance, or was it a strategic choice to focus on regions with fewer regulatory hurdles?
For users and investors in the EU, the choice is clear: opt for a stablecoin like $USDC that prioritizes compliance, security, and trust. This isnât just about adhering to the rulesâitâs about enabling long-term growth, stability, and innovation in the crypto space.
If youâre holding $USDT or exploring stablecoins, now is the time to consider USDCâa compliant, future-proof option in the evolving regulatory landscape.
#InvestSmart #USDC #CryptoCompliance #MICA.
So, why is it being outlawed in the EU?
MiCA aims to introduce transparency and consumer protection to the crypto market. Under its framework, stablecoins like USDT, classified as Electronic Money Tokens (EMTs), must secure licenses as credit or electronic money institutions and submit a compliant crypto-asset whitepaper. However, Tether has not taken these steps, making it non-compliant and effectively outlawed in the EU.
The consequences could be significant: reduced liquidity, heightened volatility, and a gap for institutional players seeking regulatory clarity. On the other hand, Circleâs USDC has proactively embraced MiCA by securing an E-Money License in Paris. This move positions USDC as a safer, EU-compliant alternative for users and investors.
This shift presents an opportunity for the growth of Euro-denominated stablecoins and greater adoption of USDC. MiCA lays the groundwork for developing institutional-friendly web3 solutions, but Tetherâs non-compliance raises questions. Did Tether misjudge the EU marketâs importance, or was it a strategic choice to focus on regions with fewer regulatory hurdles?
For users and investors in the EU, the choice is clear: opt for a stablecoin like $USDC that prioritizes compliance, security, and trust. This isnât just about adhering to the rulesâitâs about enabling long-term growth, stability, and innovation in the crypto space.
If youâre holding $USDT or exploring stablecoins, now is the time to consider USDCâa compliant, future-proof option in the evolving regulatory landscape.
#InvestSmart #USDC #CryptoCompliance #MICA.
Osmaan Ghane:
People living outside EU, what we need to do?
Tether (USDT), the worldâs largest stablecoin with a market cap of $139.7 billionâlarger than the entire valuation of Nike or UPS and roughly 13% of the total Swiss Franc supplyâis set to be delisted in the EU on December 30, 2024, due to non-compliance with the EUâs new MiCA regulation. This development could significantly impact the crypto market, particularly in regions like Argentina, where 80% of tech contractors rely on USDT for payments, and among institutional investors, for whom USDT has been the preferred means to quickly and securely convert digital assets into USD.
MiCA (Markets in Crypto Assets regulation) aims to enhance transparency and consumer protection in the crypto space. Under these rules, stablecoin issuers like Tether, categorized as providers of Electronic Money Tokens (EMTs), must secure appropriate licenses, such as becoming an authorized credit or electronic money institution, and submit a crypto-asset whitepaper to regulators. Tether has opted not to meet these requirements, unlike its competitor Circle, whose USDC is already MiCA-compliant through an e-money license obtained in Paris.
This regulatory non-compliance raises critical questions. Why has Tether chosen not to adapt to MiCAâs framework? Could this decision reduce liquidity and increase volatility in the EU market? Additionally, might it accelerate the adoption of Euro-based stablecoins or further entrench Circleâs position with USDC? While MiCA establishes a much-needed regulatory foundation for institutional investment and web3 solutions, the unintended consequence of outlawing USDT may reshape the stablecoin landscape in Europe.
What are your thoughts on Tetherâs strategy and its implications for the EUâs crypto ecosystem? #fintech #MICA. #Tether #USDT #Stablecoins $USDC
MiCA (Markets in Crypto Assets regulation) aims to enhance transparency and consumer protection in the crypto space. Under these rules, stablecoin issuers like Tether, categorized as providers of Electronic Money Tokens (EMTs), must secure appropriate licenses, such as becoming an authorized credit or electronic money institution, and submit a crypto-asset whitepaper to regulators. Tether has opted not to meet these requirements, unlike its competitor Circle, whose USDC is already MiCA-compliant through an e-money license obtained in Paris.
This regulatory non-compliance raises critical questions. Why has Tether chosen not to adapt to MiCAâs framework? Could this decision reduce liquidity and increase volatility in the EU market? Additionally, might it accelerate the adoption of Euro-based stablecoins or further entrench Circleâs position with USDC? While MiCA establishes a much-needed regulatory foundation for institutional investment and web3 solutions, the unintended consequence of outlawing USDT may reshape the stablecoin landscape in Europe.
What are your thoughts on Tetherâs strategy and its implications for the EUâs crypto ecosystem? #fintech #MICA. #Tether #USDT #Stablecoins $USDC
See original
$USDT is being banned đ« What to do now?
Tether (USDT), the worldâs largest stablecoin with a staggering market cap of $139.7 billion, is facing an EU-wide delisting under the new MiCA (Markets in Crypto Assets) regulation on December 30, 2024. This move may seem surprising given USDTâs massive influence: it is not only larger than competitors like Circleâs USDC (4x smaller), but also exceeds the valuation of giants like Nike and UPS. It is widely used globally, from Argentinian tech entrepreneurs paid in USDT to institutional investors using it for quick USD exchanges.
So why is it being banned in the EU?
MiCA aims to introduce transparency and consumer protection to the cryptocurrency market. Under its framework, stablecoins like USDT, classified as electronic money tokens (EMTs), must obtain licenses as credit or electronic money institutions and submit a compliant crypto asset white paper. However, Tether has failed to take these steps, making it non-compliant and effectively banned in the EU.
The consequences could be significant: reduced liquidity, increased volatility, and a void for institutional players seeking regulatory clarity. On the other hand, Circleâs USDC has proactively embraced MiCA by obtaining an electronic money license in Paris. This move positions USDC as a safer, EU-compliant alternative for users and investors.
This change presents an opportunity for the growth of euro-denominated stablecoins and greater adoption of USDC in the crypto space.
If you hold $USDT or are exploring stablecoins, itâs time to consider USDC -
#InvestSmart#USDC#CryptoCompliance #MICA.
Tether (USDT), the worldâs largest stablecoin with a staggering market cap of $139.7 billion, is facing an EU-wide delisting under the new MiCA (Markets in Crypto Assets) regulation on December 30, 2024. This move may seem surprising given USDTâs massive influence: it is not only larger than competitors like Circleâs USDC (4x smaller), but also exceeds the valuation of giants like Nike and UPS. It is widely used globally, from Argentinian tech entrepreneurs paid in USDT to institutional investors using it for quick USD exchanges.
So why is it being banned in the EU?
MiCA aims to introduce transparency and consumer protection to the cryptocurrency market. Under its framework, stablecoins like USDT, classified as electronic money tokens (EMTs), must obtain licenses as credit or electronic money institutions and submit a compliant crypto asset white paper. However, Tether has failed to take these steps, making it non-compliant and effectively banned in the EU.
The consequences could be significant: reduced liquidity, increased volatility, and a void for institutional players seeking regulatory clarity. On the other hand, Circleâs USDC has proactively embraced MiCA by obtaining an electronic money license in Paris. This move positions USDC as a safer, EU-compliant alternative for users and investors.
This change presents an opportunity for the growth of euro-denominated stablecoins and greater adoption of USDC in the crypto space.
If you hold $USDT or are exploring stablecoins, itâs time to consider USDC -
#InvestSmart#USDC#CryptoCompliance #MICA.
Square-Creator-c77e77871485e67fc380:
Theter will not cease to exist, it is a fool's game, it will become a crypto like the others except that it will no longer be backed by dollars and therefore subject to volatility