Tether voiced disappointment over market developments in Europe following the enforcement of the EU’s MiCA framework, which led exchanges like Crypto.com to announce the delisting of its USDt stablecoin and nine other tokens. A Tether spokesperson criticized the swift decisions made by exchanges, stating they stemmed from unclear regulations, potentially endangering EU consumers in a burgeoning crypto market. Tether warned that such MiCA-triggered actions could result in a ‘disorderly’ crypto environment. They noted that the delisting process is considerably widespread, impacting various tokens beyond USDt. Despite the challenges posed by MiCA, including added operational complexities for EU-licensed stablecoins, Tether is finalizing its European strategy for USDt while remaining committed to compliance and innovation. The European Securities and Markets Authority has urged crypto asset service providers to begin restricting non-compliant stablecoins by the end of January 2025, with a complete restriction mandated by the end of the first quarter.

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