The MiCA regulations in the EU require stablecoins like Tether (USDT) to be issued by regulated entities within the EU and to obtain authorization from a national competent authority (NCA). Since Tether has not received this authorization, major cryptocurrency exchanges in Europe are removing USDT from their platforms to comply with MiCA. Specifically, Binance has removed the USDT spot trading pairs from its exchange in the European Economic Area (EEA). Although custody and transfer services for USDT are still allowed, new offerings and trading of USDT within the EEA are prohibited.