A major upheaval is brewing in the European cryptocurrency market as Tether (USDT), the world’s largest stablecoin, risks becoming illegal due to the impending enforcement of the Markets in Crypto-Assets (MiCA) regulation. The move, which is expected to take effect within the next three days, could drastically change the European crypto ecosystem.
Hailed as a milestone in crypto legislation, the MiCA Regulation aims to bring stability and transparency to the digital asset market across the European Union. While the framework is designed to standardize the operations of cryptocurrencies, stablecoins take center stage due to their central role in the market.
Sources suggest that USDT’s failure to comply with the upcoming regulatory framework could result in USDT being delisted from European exchanges, potentially triggering a market-wide panic.
The MiCA regulation requires issuers of stablecoins to comply with strict…
