Amid this uncertainty, many on crypto Twitter have been spreading FUD (fear, uncertainty, and doubt) about Tether, speculating on its compliance and future stability under the new rules.
Key Takeaways:
- Tether's USDT stablecoin faces regulatory uncertainty with the upcoming Markets in Crypto-Assets (MiCA) Regulation in the European Union.
- Despite rumors and speculation on crypto Twitter, no regulators have officially stated that USDT is non-compliant with MiCA.
- Some exchanges, like Coinbase, have delisted USDT in anticipation of the new regulations, while others, including Binance and Crypto.com, continue trading the stablecoin.
- Tether CEO Paolo Ardoino has downplayed the FUD campaign on social media, suggesting it could be a bullish sign for the crypto market and attributing it to competitors' efforts.
- Stablecoin issuers must obtain an e-money license and maintain up to two-thirds of reserves in independent banks under MiCA.
- While Circle has secured the necessary license, Tether has not yet taken this step, further contributing to the regulatory uncertainty surrounding USDT.
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