USDT at Risk of Delisting: Tether’s Stablecoin Faces MiCA Compliance Deadline

Tether has celebrated the 10th anniversary of its stablecoin USDT, with over 120 billion tokens in circulation. While the anniversary is a significant milestone for Tether, the company still faces significant regulatory challenges that could impact its future operations, particularly in the European Union (EU).

MiCA Compliance: New EU Regulation

The Markets in Crypto Assets (MiCA) Regulation, which recently came into effect in the EU, has introduced stricter rules for crypto assets, particularly stablecoins. By June 2024, stablecoin issuers must be legally recognized as crypto issuers, or they risk being delisted from European exchanges. Tether, the issuer of USDT, has yet to achieve this recognition and now faces a deadline of December 30, 2024 to comply with MiCA regulations.

The EU defines fiat-collateralized stablecoins as those backed by fiat money (fiat money) and requires them to be issued by authorized e-money institutions. Failure to comply could result in USDT being delisted from European exchanges, which would block millions of EU-based users from accessing the stablecoin.#USDT🔥🔥 #MarketDownturn #Write2Win #IntroToCopytrading