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As the global compliance process accelerates, USDT faces unprecedented challenges—this is not just a technological or market transformation, but potentially a liquidation of the 'old era.'

1. Countdown to regulation: the risks of USDT are shifting from hypothetical to real
In March 2025, the stablecoin regulatory bill officially passed in the US clearly states:
Illegal if unregistered: USDT has not obtained legal status within the US and may be delisted by multiple compliant platforms in the future;
High transparency audits: addressing historical issues like auditing gaps and account mixing present in USDT's early days, may be forced to disclose and reassess in the future;