Opinion: The EU's delisting of USDT on cryptocurrency exchanges may cause Europe to miss the crypto boom
According to Bloomberg, the EU's crypto asset regulations are set to fully come into effect by the end of the year. To comply with the Markets in Crypto Assets Regulation (MiCA), several cryptocurrency exchanges within the EU have delisted Tether's USDT, a mainstream stablecoin. Circle, Tether's main competitor, obtained such permission in July.
However, Tether has not yet obtained this kind of permission but does not rule out trying to get it in the future. Without this permit for Tether, regulated exchanges must delist this token before December 30th. The new EU regulation aims to allow regulatory authorities to better understand cryptocurrency flows and help prevent crimes like money laundering; blockchain forensics experts say that USDT is often used for such crimes.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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