How big is the EU? If he prohibits it, does it affect others' use?

The EU will ban the circulation of USDT starting December 30, 2024, a move that constitutes a significant shock to the global cryptocurrency market!
The recent MiCA (Markets in Crypto-Assets Regulation) introduced by the EU undoubtedly brings unprecedented strict regulation to the cryptocurrency field. The regulation requires stablecoin issuers to hold an electronic money license, establish sufficient reserves, and accept comprehensive transaction monitoring. However, Tether Limited has failed to meet these stringent conditions, resulting in its globally accepted stablecoin USDT being expelled from EU compliant platforms.
The withdrawal of USDT has undoubtedly stirred up a storm in the cryptocurrency market. As a leader in the market, USDT has played a crucial role, providing investors with a safe haven during market turmoil. Now, its departure will force investors to seek new alternatives, such as fiat currencies or other stablecoins. However, whether these alternatives can truly fill the enormous void left by USDT remains an unknown.