⚠️ Coinbase purifies stablecoins in Europe, USDT gets hit

Coinbase announced that it will delist substandard stablecoins in Europe from December 30, 2024. Next month, the exchange will propose a solution to help users switch to licensed stablecoins like USDC.

The reason is that the EU is "framing" the crypto industry with the MiCA law, which is expected to officially launch later this year. By the new year, all crypto companies in the EU must be within the framework.

With this strong move, Tether may be the party that suffers the most damage, because the company has not yet been licensed to provide USDT in Europe.

*Note: The MiCA law only applies to European countries, AE in other regions like Vietnam,.. are still comfortable!