ATTENTION!!!!!
The European Union has implemented a new regulation called MiCA (Markets in Crypto-assets), which comes into effect on December 30, 2024. This regulation imposes strict requirements on stablecoin issuers, such as Tether, the company behind USDT ¹.
Because Tether has not complied with MiCA requirements, European exchanges have begun to delist USDT from their platforms. This has led to a decline in the market capitalization of USDT, which has lost about $2 billion in recent days ¹.
The removal of USDT from European exchanges has also raised concerns about the liquidity of European markets. However, some analysts believe that this decision will not severely affect USDT, as most of its trading volume comes from Asia ¹.
Meanwhile, USDC, a stablecoin issued by Circle, is taking over in Europe. USDC has the necessary permits to operate in the region and has gained significant ground in recent days ².
In summary, the implementation of MiCA in the European Union has led to the removal of USDT from European exchanges, raising concerns about market liquidity. However, USDC is taking this opportunity to expand in the region.
