If #USDT were banned in Europe, the key impacts would include:

1. Reduced Liquidity: Major drop in trading volumes on European exchanges.

2. Market Volatility: Disruption in stablecoin-reliant trading pairs.

3. Higher Costs: Increased transaction fees for crypto users.

4. Shift to Alternatives: Migration to compliant stablecoins like USDC.

5. Cross-Border Disruption: Slower and costlier international transactions.

The situation is dynamic, so staying updated on regulations is essential.