🚨🚨$USDT 🦅⚠️🚨
The delisting of USDT from exchanges is primarily driven by the European Union's Markets in Crypto-Assets (#MiCARegulation ) which set stringent requirements for stablecoins. As of December 30, 2024, exchanges must delist USDT unless Tether, the issuer, meets the MiCA standards.
⚠️Non-Compliance➡️USDT currently doesn't meet MiCA's requirements for transparency, asset backing, and regulatory reporting.
⚠️Regulatory Deadline➡️ Exchanges face pressure to delist non-compliant tokens before the December 30 deadline to avoid penalties.
This move may lead to liquidity concerns, as USDT is widely used in trading pairs and cross-border transactions. However, some exchanges are offering alternative stablecoins, such as USDC, which is already MiCA-compliant.
Tether is working on #MiCA -compliant alternatives, but the exact timeline for their release is unclear. In the meantime, users can exchange their USDT for USDC on some exchanges or wait for the automatic exchange on December 30, 2024.