Tether Faces Regulatory Challenges in Europe – BitRss

Tether (USDT), the largest stablecoin pegged to the dollar, is widely used for cryptocurrency transactions. However, the European Markets in Crypto-Assets (MiCA) regulations impose serious pressures on Tether due to non-compliance.

Europe and Tether

Under MiCA standards, stablecoins like Tether must obtain an electronic money license to operate on cryptocurrency exchanges. USDT risks being banned in Europe for failing to secure this license within the specified timeframe. Consequently, this situation could lead to the delisting of USDT from various crypto exchanges by December 30, 2024.

With a market capitalization of $139.28 billion, Tether ranks as the third-largest cryptocurrency after Bitcoin $94,275 and Ethereum