PANews reported on January 29 that according to FinanceFeeds, the European Securities and Markets Authority (ESMA) requires cryptocurrency companies to comply with the EU's new stablecoin rules by March 31. According to market observers, USDT is one of the stablecoins under strict scrutiny. It is still unclear whether Tether intends to apply for the EU-authorized MiCA license. As an "important" stablecoin under MiCA, it may face stricter requirements, including higher capital reserves and stricter supervision. Other industry insiders believe that Asia accounts for 80% of USDT trading volume, the United States also dominates global cryptocurrency trading, and Europe's USDT market share does not seem to be large. In addition, in order to comply with MiCA requirements, Tether has invested in compliance companies such as StablR and Quantoz Payments. Tether CEO Paolo Ardoino has made it clear that he does not intend to leave the EU in the short term. Although USDT cannot be traded on MiCA-compliant exchanges, traders can still put stablecoins in non-custodial wallets as a short-term solution.
Opinion: Tether’s main market is not in Europe, and it is still unclear whether it has applied for a MiCA license
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