EU Exchanges Delist Tether’s USDT in Preparation for MiCA

In preparation for the upcoming Markets in Crypto-Assets (MiCA) regulations in the European Union, European exchanges are delisting Tether (USDT) en masse. This could severely hamper the EU market’s ability to capitalize on the rising cryptocurrency market.

The election of Donald Trump in the United States benefits Tether along with the broader crypto industry, but the chaos in the European market could disrupt investment.

Tether Prepares for MiCA

It has been clear for several months now that Tether (USDT), the largest stablecoin, will not comply with MiCA regulations. According to a new report, European exchanges have until December 30 to delist the asset. However, concerns are growing in the European crypto community, as Tether’s withdrawal could have a major impact on the landscape.

Essentially, Tether is a very useful stablecoin for cryptocurrency operations in the EU and a vital source of liquidity. Despite the high level of sophistication and interest in the space, some European financial products are dwarfed by the US-centric bull market.

Overall, crypto investments in the EU have fallen in 2024 compared to other regional markets, and MiCA could cause them to fall further.