Eso es cierto

#USDT #USDC #MiCA

Hey there!

I would like to clear the misconception here, going on on Square about USDT.

USDT will not be gone after the 30th of December, you can keep owning it if you have it in your wallets, IT IS NOT ILLEGAL, but keep on reading, since you obviously didn't so far during this past year...

MiCA regulation came out in January 2024. This framework points out for stablecoin issuers what they have to do to be accepted for usage in the European Union. This is important, because there are countries who are in Europe but not part of the EU zone.

Issuers had up until June of 2024 to prove to the EU zone Central Bank that they are worthy of using. Only one issuer dared to clear themselves for EU zone regulations and it was Circle and their USDC.

This is the reason why, since July of 2024 people from the EU zone are not allowed to buy USDT, put it in their Earn wallet or make any financial movement on Binance. Every USDT trading pair is hidden for people from the EU zone, except for probably the USDC/USDT pair.

If you already owned USDT from before and it is in your Spot wallet, you can keep it there it will not vanish or do something magic thing.
You can trade your USDT once more to exchange it but you will not be able to buy USDT anymore, since July of 2024.
If you had USDT in your Earn wallet, either locked or flexible, it will not vanish or do something magic trick, but instead of providing USDT as a reward, you get BNB instead.

To summarize:

- People from the EU zone are not allowed to buy or trade USDT, Binance even filter all USDT trading pairs.
- Your older USDT holdings will not magically disappear after December of 2024, it was already done in July of 2024.
- You can keep owning USDT but are unable to buy any more of it
- You can keep your old USDT locks in your Earn wallet, but unable to lock more and instead of USDT rewards, you get BNB as a reward.
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I hope this helps some of you out and gets to as many people as possible.

Take care and always DYOR and never FOMO!