Rumor has it that USDT is not compliant, or will it face delisting?
Recently, there have been rumors that USDT may withdraw from the European market because it does not comply with the new European regulations. This new regulation is called MiCA, which was introduced by the European Union to regulate the digital currency market.
Tether, the company that issues USDT, is trying to solve this problem. They plan to launch a new technical solution to meet European regulatory requirements. Tether said that this new solution will be customized according to the needs of the European market.
The news came after the Coinbase exchange announced a deadline. Coinbase said that by December 30, 2024, if the stablecoin does not comply with MiCA regulations, it will be delisted. However, this decision only affects Europe and other places are not affected.
In addition to Coinbase, there are other exchanges, such as OKX, Bitstamp and Uphold, which have also stopped serving EU non-compliant stablecoins in advance.
Paolo Ardoino, the boss of Tether, said that they are still discussing with regulators because some of the regulations of MiCA may bring risks to banks and digital assets. He said that if the requirements are too strict, it may cause banks and digital assets to be affected by large-scale withdrawals, just like Silicon Valley Bank before.
Although Tether feels that some of MiCA's regulations may bring challenges, they still appreciate EU regulators because these regulations contribute to the healthy development of the digital currency industry.
For investors, it is necessary to pay close attention to relevant developments, as this may affect the market value and liquidity of USDT. At the same time, this also sounded the alarm for the entire cryptocurrency industry. Compliance operations will be the key to future development. Only by meeting regulatory requirements can we gain a foothold in the market and continue to develop.
