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Crypto Industry Divided on Europe’s MiCA Regulations As Tether Delistings Continue

Crypto Industry Divided on Europe’s MiCA Regulations As Tether Delistings Continue
EU's MiCA regulations have caused some cryptocurrency exchanges to delist Tether's USDT stablecoin. However, experts argue that the new rules will benefit both stablecoin issuers and users. While the delisting of USDT may disrupt the cryptocurrency market, platforms have until Q1 2025 to comply with the regulations. So far, Coinbase and Crypto.com have delisted USDT, which is the largest stablecoin by market capitalization. Critics of the regulations claim that delisting USDT could reduce liquidity and create risks for banks and digital assets. However, proponents of MiCA believe that it creates opportunities for crypto businesses to operate more efficiently across European markets and accelerate innovation. Some experts point to Switzerland's "technology-neutral" legal framework as an example of a business-friendly environment that has attracted cryptocurrency companies. However, others remain skeptical about the efficiency of MiCA in allowing EU/EEA companies to target the global market. Compliance is considered important in the industry, with some organizations ensuring their activities remain within the confines of the law to support trust, transparency, and accessibility in blockchain.

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