‼️🚨 What will become of Tether's USDT in Europe ?🚨‼️
Tether's USDT should theoretically be removed from cryptocurrency exchanges affected by MiCA regulations on December 30. USDT is currently not compliant with the regulation soon to be put in place, and Tether has even previously announced the gradual disappearance of EURT, its stablecoin backed by the euro yet intended to conquer the European market.
We contacted different crypto exchanges, who clarified (or not) their position regarding the USDT listing:
⚠️Coinbase confirmed to us that USDT (in addition to other non-compliant stablecoins) could no longer be purchased, exchanged or traded on its platform as of December 13
⚠️Deskoin told us that USDT and DAI could no longer be bought, exchanged or sold for euros from December 31. Any remaining USDT balances after this date will be converted to USDC. Deposits in USDT will no longer be possible
⚠️Binance did not wish to communicate on the subject. Note that it is no longer possible to buy USDT on the platform, but that trading pairs with USDT are still offered, in particular the BTC/USDT pair
⚠️Kraken told us that it had no communication to make on the subject. USDT is still available on the platform without constraints.
In any case, Tether, which has already clearly shown its disagreement with MiCA's requirements, does not wish to stop there. It recently invested in Quantoz, a Dutch firm holding the famous electronic money institution (e-money institution) license, necessary to issue MiCA-compliant stablecoins within the EEA. The company offers 2 stablecoins, EURQ and USDQ, which should be available soon on Bitfinex and Kraken.