#Usdt #europebannedusdt

Tether's USDT stablecoin is facing delisting from several cryptocurrency platforms in Europe due to the European Union's Markets in Crypto-Assets (MiCA) regulations. These regulations, which began to take effect on June 30, 2024, require stablecoin issuers to obtain electronic money authorization in at least one EU member state. Full enforcement for crypto asset service providers is scheduled for December 30, 2024.

Coinbase has announced plans to delist USDT and other non-compliant stablecoins from its European platforms starting December 13, 2024. This decision aligns with MiCA's requirements, as Tether has not yet secured the necessary authorization to offer USDT within Europe. Coinbase will continue to support compliant stablecoins like USD Coin (USDC) and EURC.

Other exchanges, including Bitstamp and OKX, have already limited access to Tether's stablecoins in anticipation of MiCA's full implementation. These actions are expected to impact the liquidity of USDT in the European market, potentially affecting its price and usage. However, they also create opportunities for compliant stablecoins to expand their market share in the region.

Tether's CEO, Paolo Ardoino, has criticized the "rushed actions" of some exchanges and expressed confidence in Tether's ability to navigate the changing regulatory landscape. Tether is reportedly finalizing its long-term plans for the European market to ensure compliance with MiCA and continue its operations in the region.

In summary, USDT is facing delisting from several crypto platforms in Europe due to non-compliance with upcoming EU regulations. Tether is working to address these regulatory challenges to maintain its presence in the European market.

Sources : Cointelegraph, oin Edition ,bitcoinik

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