WARNING! USDT is Banned in Europe!

Breaking news: Major stablecoins like Tether (USDT) will be banned from the European crypto market next month due to new EU regulations! This could seriously disrupt trading on European crypto exchanges.

What is stablecoin?

Stablecoins are cryptocurrencies that are pegged to a real currency, such as the US dollar or another cryptocurrency. They offer an advantage over other currencies by ensuring prices are less volatile. The most well-known example is Tether (USDT), which is tied to the dollar.

Why is it banned?

The EU's new requirements on capital and transparency ban most of these stablecoins. Tether, which holds 70% of the $160 billion market value, does not comply with the MiCA (Crypto Asset Markets) Regulation. This means it will be removed from the European Union next month and will cease to be commercial on many online trading platforms.

What will be the results?

European investors will be forced to look for other stablecoins when using crypto services outside Europe.

Market liquidity and stability may be impaired.

The EU may be isolated on crypto.

Are There Alternatives?

Very few stablecoins currently comply with the new EU rules. The biggest hope rests with Circle's USDC. This is the second largest dollar stablecoin to capture the market. Circle also has a small stablecoin tied to the euro: EURC.

What Does Tether Do?

Tether is unwilling to comply with European rules. “Given the EU's rules that greatly restrict access to crypto, it is clear that Europe did not expect this,” says CEO Paolo Ardoino.

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