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Ban on USDT in the EU.
By the end of December, European cryptocurrency exchanges must remove the stablecoin USDT.
The reason is non-compliance with the MiCA regulatory rules. According to these rules, issuers are required to hold 30-60% of their funds in European banks.
The stablecoin USDC complies with this rule.
The ban does not apply to other countries; in the Russian Federation, trading in USDT is allowed.
Many analysts believe that residents of the EU will start transferring funds from USDT to USDC and buying crypto, which could certainly lead to its growth.
Tether also plans to enter the European market, but under different brands.
Tether, together with Quantoz Payments, will launch stablecoins EURQ and USDQ.