Will MiCA Cause EU Market Chaos Amid Tether Delistings?
European exchanges are delisting Tether (USDT) en masse in anticipation of the EU’s upcoming Market in Crypto-Assets (MiCA) regulations. This could severely hamper the EU market’s ability to capitalize on the cryptocurrency bull run.
The election of Donald Trump in the United States has benefited Tether and the broader crypto industry, but market disruption in the European Union could disrupt investment.
Tether prepares for MiCA
It’s been clear for months Tether’s USDT, maximum Stablecoinwill not be MiCA compliant. According to a new ReportEU exchanges have until December 30 to delist the asset. However, concerns are growing among the European crypto community as Tether’s withdrawal could have a huge impact on the space:
Usman Ahmad, CEO of cryptocurrency trading company Zodia Markets, said: “I understand why this is done to a certain extent, but it is quite exclusive and restrictive for EU customers themselves. , because (USDT) is the most liquid stablecoin ” Holdings Ltd.
Essentially, Tether is a stablecoin that is very useful for EU crypto business operations, An important source of liquidity. Despite the high level of development and interest in the field, some European financial products pale in comparison. A US-centric bull market.
Overall, EU cryptocurrency investment has been declining in 2024 compared to other regional markets, and MiCA could cause them to fall further.
Tether has been preparing for MiCA Reduce European servicesbut invest heavily in New Stablecoin Meets EU Compliance Requirements. However, some major competitors see this as a significant opportunity weakening Tether’s dominant position in this market.
At the same time, there are concerns that potential regulatory chaos in the EU comes at a time when cryptocurrency markets are booming elsewhere. The cryptocurrency industry in the United States has been booming since Donald Trump won the US presidential election. Tether allies are accepting new appointments Under Trump, and The company is clearly profiting in this area.
European investors can only hope that the chaos caused by the withdrawal of MiCA and Tether will not depress overall investment rates. Cryptocurrencies are entering a new level of institutional and regional acceptance globally, but Europe could still fail.
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