隨著 MiCA 法規的臨近，Tether 的 USDT 穩定幣在歐洲面臨不確定的未來

歐盟即將出台的加密貨幣法規引發了 Tether USDT 穩定幣合規性的不確定性。

Coinbase, a major U.S. crypto exchange, quietly delisted Tether’s USDT stablecoin in mid-December, in an apparent move to adhere to the European Union’s new Markets in Crypto-Assets Regulation (MICA).

美國主要加密貨幣交易所 Coinbase 於 12 月中旬悄悄下架了 Tether 的 USDT 穩定幣，此舉顯然是為了遵守歐盟新的加密資產市場監管 (MICA)。

However, the stablecoin continues to trade on several European platforms, as many await further guidance from EU regulators on USDT’s MICA compliance.

然而，該穩定幣繼續在多個歐洲平台上進行交易，因為許多平台正在等待歐盟監管機構就 USDT 的 MICA 合規性提供進一步指導。

No explicit statements from EU regulators have declared USDT non-compliant, but the absence of clear guidance leaves room for interpretation.

歐盟監管機構沒有明確聲明宣布 USDT 不合規，但缺乏明確的指導意見留下了解釋的空間。

"Exchanges like Binance and Crypto.com have no immediate reason to follow Coinbase’s lead in the case of USDT, at least from a MICA perspective,” said Juan Ignacio Ibáñez, policy lead at the MiCA Crypto Alliance, a crypto industry association, in a statement shared with Blockworks.

加密產業協會MiCA 加密聯盟的政策負責人Juan Ignacio Ibáñez 表示：「在USDT 方面，像Binance 和Crypto.com 這樣的交易所沒有直接理由追隨Coinbase 在USDT 方面的領先地位，至少從MICA 的角度來看是這樣。

"Coinbase’s decision is likely a cautionary measure against potential regulatory uncertainties in the US, which are separate from MICA."

“Coinbase 的決定可能是針對美國潛在監管不確定性的一項謹慎措施，這些不確定性與 MICA 是分開的。”

With MICA set to be fully enforced by December 30, 2024, the possibility of USDT delistings looms.

隨著 MICA 將於 2024 年 12 月 30 日全面執行，USDT 下架的可能性迫在眉睫。

"We should be closely observing how the exchanges approach the approaching MICA enforcement date — whether they take immediate action or choose a progressive strategy, perhaps holding out for official statements from EU regulators,” Ibáñez added.

伊巴涅斯補充道：“我們應該密切關注交易所如何應對即將到來的 MICA 實施日期——他們是立即採取行動還是選擇漸進策略，也許會等待歐盟監管機構的正式聲明。”

"A ‘wait-and-see’ approach incurs significant regulatory risks under MICA."

“根據 MICA，‘觀望’做法會帶來重大監管風險。”

Some media outlets have reported that European exchanges must delist USDT by the regulatory deadline, but EU authorities have not mandated such action, according to a previous Blockworks report.

根據 Blockworks 先前的一份報告，一些媒體報告稱，歐洲交易所必須在監管截止日期前將 USDT 下架，但歐盟當局並未強制要求採取此類行動。

The European Securities and Markets Authority (ESMA), which is overseeing MICA compliance, has not clarified USDT’s status, stating that it is liaising with market participants to resolve issues related to stablecoins.

負責監督 MICA 合規性的歐洲證券和市場管理局 (ESMA) 尚未澄清 USDT 的狀況，並表示正在與市場參與者聯絡以解決與穩定幣相關的問題。

As of December 27, trading of USDT persists across various European crypto exchanges, including Binance EU and Crypto.com, though these platforms have not revealed any plans regarding potential delisting.

截至 12 月 27 日，USDT 交易仍在多個歐洲加密貨幣交易所持續進行，包括 Binance EU 和 Crypto.com，儘管這些平台尚未透露任何有關潛在下架的計劃。

MICA’s implementation timeline also includes a transitional phase that extends to July 2026, during which entities currently providing crypto services under national laws may continue operations.

MICA 的實施時間表還包括一個延長至 2026 年 7 月的過渡階段，在此期間，目前根據國家法律提供加密服務的實體可以繼續運作。

This is due to transitional measures such as grandfathering clauses, which allow businesses to function under existing regulations until their MICA authorization is granted or refused, Blockworks previously reported.

根據 Blockworks 先前報導，這是由於諸如祖父條款等過渡性措施所致，這些措施允許企業在現有法規下運作，直到其 MICA 授權被授予或拒絕。

This provision aims to ensure continuity for service providers but also results in differing levels of consumer protection throughout the EU.

該規定旨在確保服務提供者的連續性，但也導致整個歐盟的消費者保護程度不同。