Binance和Kraken將USDT（Tether）從其在歐洲的業務中刪除

這種變化特別影響了歐盟中的用戶，雲母法規在其中採取了更嚴格的措施來處理和使用Stablecoins。

On April 2, both Binance and Kraken announced the removal of USDT (Tether) from their European operations in response to new regulatory pressures imposed by MiCA regulation. This change, specifically affecting users located in the European Union, is a direct consequence of the introduction of stricter measures for the handling and use of stablecoins stipulated by the European legislation.

4月2日，Binance和Kraken都宣布，以響應MICA法規施加的新監管壓力，將USDT（Tether）從其歐洲行動中撤離。這種變化特別影響了歐盟中的用戶，是對歐洲立法規定的穩定劑的處理和使用的更嚴格措施的直接結果。

What the European regulations provide for

歐洲法規規定的

MiCA (Markets in Crypto-Assets Regulation) is a new European regulation that aims to more strictly regulate the use of cryptocurrencies, including stablecoins. The main objective of MiCA is to ensure the stability of the European financial system, while offering greater protection to investors and institutions. In particular, MiCA establishes stringent requirements for stablecoin issuers, including transparency and capital reserve requirements. This regulation has led to significant changes in the European cryptocurrency market, forcing some platforms to remove or restrict the use of non-compliant stablecoins.

雲母（Crypto-Assets法規中的市場）是一項新的歐洲法規，旨在更嚴格地調節包括穩定幣在內的加密貨幣的使用。雲母的主要目的是確保歐洲金融體系的穩定性，同時為投資者和機構提供更大的保護。特別是，雲母對穩定發行人建立了嚴格的要求，包括透明度和資本儲備要求。該法規導致歐洲加密貨幣市場發生了重大變化，迫使某些平台刪除或限制了不合規的穩定劑的使用。

The operational changes of Binance and Kraken

Binance和Kraken的操作變化

With the introduction of MiCA, Binance suspended the use of the USDT on the spot market for European users, although they are still allowed to hold the token and use it in perpetual futures contracts.

隨著雲母的引入，binance暫停了USDT在歐洲用戶的現貨市場上的使用，儘管仍然允許他們持有令牌並將其用於永久期貨合約。

Kraken, on the other hand, opted for a different solution, allowing European users to sell only the USDT they already hold, but not allowing new purchases or exchanges of the token. These changes were necessary to align with new MiCA regulations, which impose restrictions on the treatment of non-compliant stablecoins.

另一方面，Kraken選擇了另一種解決方案，允許歐洲用戶僅出售他們已經持有的USDT，但不允許新購買或代幣的交換。這些變化對於與新的雲母法規保持一致，這對不合規的穩定劑的治療施加了限制。

These changes affect a wide range of users in Europe, who now have to seek alternatives for the use of stablecoins. USDT is not the only stablecoin to have been removed from exchange platforms in Europe. Other stablecoins, such as FDUSD and DAI, have undergone similar changes due to MiCA regulation. Tether, despite being the market leader, has seen its position challenged by regulation, but the removal has not affected his stablecoin exclusively, indicating a broader impact on dollar-linked cryptocurrencies.

這些變化會影響歐洲的各種用戶，他們現在必須尋求使用穩定的替代方案。 USDT並不是唯一從歐洲的交換平台中刪除的穩定者。由於雲母調節，其他穩定菌素（例如FDUSD和DAI）發生了類似的變化。 Tether儘管是市場的領導者，但已經看到其立場受到法規的挑戰，但撤離並未僅影響他的Stablecoin，這表明對美元掛鉤的加密貨幣產生了更大的影響。

The USDT in the global market: capitalisation and trading volumes

全球市場上的USDT：資本化和交易量

Despite the removal of the USDT from European platforms, the token remains the dominant stablecoin globally. Its market capitalisation is currently $144 billion, a figure that puts it well ahead of its direct competitors. Moreover, the USDT continues to be the most traded stablecoin, with daily volumes far exceeding those of other stablecoins.

儘管USDT從歐洲平台上刪除了，但令牌仍然是全球主要的穩定穩定性。它的市值目前為1,440億美元，這一數字使其領先於直接競爭對手。此外，USDT仍然是交易最多的Stablecoin，每日量遠遠超過其他穩定的穩定量。

In the context of stablecoin regulations, attention is also shifting to the US. The ‘Stable Act’, a bill that will regulate stablecoins, may also influence Tether’s position outside Europe in the future. This bill requires stablecoin issuers to operate as banking institutions, requiring them to have an official licence to operate.

在Stablecoin法規的背景下，注意力也轉移到美國。 “穩定法案”是一項規範Stablecoins的法案，也可能會影響Tether的未來在歐洲以外的地位。該法案要求Stablecoin發行人以銀行機構的身份運營，要求他們擁有正式的執照。

Despite the regulatory difficulties that Tether may face, the USDT continues to maintain a strong position in the global market, although increasing regulatory intervention may change the competitive landscape.

儘管繫繩可能面臨的監管困難，但美國農業部仍在全球市場中保持強大的地位，儘管增加的監管干預措施可能會改變競爭格局。