Will exchanges in Europe delist USDT?🫣🫣🫣
🔴New European Union rules on crypto assets (MiCA) imply that cryptocurrency exchanges in the EU must delist stablecoins that have not received regulatory approval by December 30, 2024. USDT may be among these cryptocurrencies as the company has not received local approval.
🔴The Tether token significantly leads among all cryptocurrencies in trading volume. Over the past 24 hours, out of a total market trading volume of $385 billion, USDT accounted for $218 billion. In comparison: BTC had $110 billion, and USDC had $15 billion.
🔴Delisting Tether will restrict Europeans themselves because USDT is currently the most liquid stablecoin. The majority of crypto assets are traded in pairs with USDT, so investors who have to exit the USDT pair to buy the same asset for trading in a pair with another stablecoin will incur losses.
