Opinion: The EU's removal of USDT from crypto exchanges may cause Europe to miss out on the crypto boom

ChainCatcher news, according to Bloomberg, the EU's crypto asset law is set to come into full effect by the end of the year. To comply with the Markets in Crypto-Assets Regulation (MiCA), several cryptocurrency exchanges within the EU have delisted the mainstream stablecoin Tether's USDT. Tether's main competitor, Circle, obtained such a license in July.

However, Tether has not yet obtained such a license but has not ruled out the possibility of attempting to acquire one in the future. In the absence of a license for Tether, regulated exchanges must delist the token by December 30. The new EU regulations aim to provide regulators with deeper insights into cryptocurrency flows and help prevent criminal activities such as money laundering, as blockchain forensic experts state that USDT is often used in such crimes.