The sky is falling, the sky is falling! Can this year still be celebrated properly?
The EU will delist unregulated stablecoins on the 30th of this month.
According to the upcoming "Regulation on Markets in Crypto-Assets" (MiCA) to be implemented by the EU in 2024, starting from December 30, 2024, which is the day after tomorrow, all cryptocurrency exchanges operating in the EU must delist stablecoins that have not been licensed by the EU, including Tether's USDT.
Several cryptocurrency exchanges within the EU have begun to delist USDT, and new issuers are trying to fill the gap, while investors are defaulting to using euros for cryptocurrency trading. This change has a direct impact on market liquidity and trading habits. Alternative solutions are still in a controversial stage!
Impact on the global crypto landscape: Although USDT is primarily being delisted in the EU market, its global influence remains. Tether, as the largest stablecoin issuer in the world, has its products widely used globally. The EU's decision may trigger a chain reaction in the global cryptocurrency market, especially for users and exchanges that rely on USDT for trading.