USDT Ban Imminent! How Will This Impact Your Crypto Portfolio?
The European Union's new regulatory framework, Markets in Crypto-Assets (MiCA), will reportedly ban Tether (USDT) and other stablecoins that don't meet the requirements. Tether, the largest stablecoin by market capitalization, doesn't comply with MiCA's capital and transparency requirements. As a result, it will be removed from European crypto exchanges next month. This change may disrupt trading and force European investors to seek alternative stablecoins, potentially impacting market liquidity and stability. While a few stablecoins, like Circle's USDC and EURC, comply with the new rules, Tether has chosen not to adapt to the EU regulations, citing restrictive access to crypto in the EU.
It's essential to note that the authenticity of this information should be verified through further research, as the crypto landscape is constantly evolving.