Europe says goodbye to USDT and USDC takes over

As of December 30, all exchanges in the European Union must remove USDT from their listings. Europe says goodbye to USDT and USDC takes over

As of December 30, all exchanges in the European Union must remove USDT from their listings. The measure corresponds to the entry into force of the MiCA Regulation.

USDC has the permissions to operate in Europe.

As of December 30, the European Union will fully implement the Regulation on Crypto-Asset Markets (MiCA), sidelining one of the most widely used stablecoins globally: USDT.

This change opens the doors to USDC and EURC, issued by Circle, consolidating a new balance in the European cryptocurrency market.

With a market capitalization close to $163 billion, USDT, the largest stablecoin in the world issued by Tether, has been a benchmark in crypto-asset trading.

However, compliance with the strict provisions of the MiCA Regulation has proven impossible for the issuance of this token. The regulation requires that all stablecoins listed on centralized exchanges be issued by entities that hold electronic money licenses and maintain at least two-thirds of their reserves in an independent bank.