Something big is brewing! The EU is going to crack down on stablecoins!
The EU is planning a major move, cryptocurrency investors should be cautious! According to the "Regulation on Markets in Crypto-assets", starting the day after tomorrow, any stablecoins that do not have a license must be delisted from EU exchanges.
This means that, for example, the USDT issued by Tether will have to disappear from EU exchanges if it hasn't obtained a license yet. This is serious business, USDT is a major player and has a significant impact.
Many exchanges in the EU are currently busy delisting USDT. New issuers also want to join the fray, but it seems that investors prefer to trade in euros. As a result, market liquidity and trading habits will be affected.
What's even more troubling is that there is still no reliable alternative solution at this time. It's really frustrating; the market needs a clear path, but it seems we will have to wait a bit longer.
So how will this affect the global cryptocurrency market? The impact will be substantial. Although USDT is primarily being delisted in the EU, its weight in the global market is significant.
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