The EU has removed USDT from the shelves. What's going on? Is the market really going to collapse?

Recently, I heard that the EU is going to remove USDT from the shelves. Many people are getting nervous, fearing that the market will fall sharply. Do you know what the EU's removal of USDT means?

First of all, we must be clear that this removal is actually aimed at the EU's own virtual currency exchanges. Simply put, the EU only restricts the trading of USDT on their trading platforms. Some large platforms are not affected, and everyone can trade USDT as usual. Therefore, only a few users who use EU exchanges are affected, and they may not be able to use USDT transactions.

At this point, many people who use stablecoins such as USDT to withdraw funds may have a question. What if I make a profit and want to withdraw the currency to a bank card? Especially for mainland accounts, anti-money laundering monitoring is strict. If you are not careful, you will face troubles such as account freezing and asset confiscation. If you do not operate properly, you may even involve legal risks.

Don't worry, there are still legal and safe ways to withdraw funds smoothly. Here are two simple methods for your reference:

1. Withdraw USDT from the exchange to BiyaPay

BiyaPay is an e-wallet with a US legal license. You can withdraw USDT to BiyaPay and exchange it for US dollars 1:1. Next, withdrawing to a legal bank account is very simple.

Here we take Wise as an example: After the funds arrive at Wise, you can directly withdraw to Alipay, WeChat or Bank of China.

2. Withdraw USDT from the exchange to Kraken

Kraken is an exchange with a UK legal license. You can withdraw USDT to Kraken and then transfer it to IFast UK Bank.