🚨 Major changes for USDT in Europe: What you need to know! 🚨
In a groundbreaking move, European regulators have ordered cryptocurrency exchanges to REMOVE USDT (Tether) by December 30, 2024, in accordance with new compliance requirements under the Markets in Crypto-Assets Regulation (MiCA). This unexpected directive is set to disrupt the crypto landscape in Europe and raise concerns about liquidity and market stability. 😱
What is happening?
Compliance with MiCA: European regulations now require stablecoins, such as USDT, to meet strict standards for reserves and transparency. Tether has yet to obtain the necessary license, leading to its delisting from major exchanges in the EU.
Market impact: The removal of USDT could cause significant turbulence in the market, affecting liquidity, trading volumes, and the overall structure of cryptocurrency pairs. Exchanges may face increased transaction costs and potential market fragmentation. 🔥
