EU Crypto Regulation is about to take effect, and USDT compliance remains a major uncertainty

According to TechFlow, on December 27, Cointelegraph reported that although the EU's cryptocurrency regulation (MiCA) is about to take effect, there is still significant uncertainty about the compliance of Tether's USDT stablecoin. Earlier news, Coinbase delisted USDT in mid-December, saying it did not meet MiCA requirements, but many exchanges are still trading USDT, waiting for further regulatory clarification.
Juan Ignacio Ibañez, a member of the MiCA Crypto Alliance, said that although no regulator has explicitly stated that USDT is non-compliant, it does not mean that it is compliant. He believes that Coinbase's decision to delist may be based on considerations of avoiding compliance risks.
MiCA will be fully implemented on December 30, 2024, followed by an 18-month transition period. According to the European Securities and Markets Authority (ESMA), MiCA’s transition period will allow entities that already provide crypto-asset services before December 30, 2024 to continue operating until July 1, 2026.