USDT has been banned by the EU🚫, what should we do?
There’s something significant to discuss. Tether (USDT), the globally renowned stablecoin, with a market cap of up to 139.7 billion dollars, might not be able to survive in the EU after December 30, 2024. Is this a big deal?
The influence of USDT is undeniable, much stronger than those youngsters at Circle, even surpassing big names like Nike and UPS. From small tech companies in Argentina to major investors on Wall Street, the whole world is using USDT.
But why can’t it survive in the EU?
To put it simply, the EU has introduced a new regulation called MiCA, requiring stablecoins like USDT to comply with rules, obtain licenses, and submit white papers. However, USDT has chosen to ignore this, resulting in a ban!
This is a serious issue; liquidity will decrease, and volatility will increase, causing headaches for those institutions wanting to operate smoothly. Look at Circle, they were smart, aligning early with MiCA, obtaining a license in Paris, and promoting USDC as a compliant and safe new option.
As a result, euro stablecoins are set to thrive, and USDC is bound to soar. MiCA has paved the way for the future of web3, but USDT's actions are puzzling. Did it overlook the EU opportunity, or is it deliberately avoiding regulation to develop elsewhere?
Our users and investors in the EU need to stay vigilant. When choosing a stablecoin, it’s important to consider compliance, safety, and trust, not just the exchange rate. This is a crucial matter concerning the future of our crypto world.
For those holding USDT or considering trying stablecoins, you should think about USDC. This is a compliant, future-oriented new choice; don’t wait until it’s banned to regret it.
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