Binance和Kraken将USDT（Tether）从其在欧洲的业务中删除

这种变化特别影响了欧盟中的用户，云母法规在其中采取了更严格的措施来处理和使用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，以响应MICA法规施加的新监管压力，将USDT（Tether）从其欧洲行动中撤离。这种变化特别影响了欧盟中的用户，是对欧洲立法规定的稳定剂的处理和使用的更严格措施的直接结果。

What the European regulations provide for

欧洲法规规定的

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.

云母（Crypto-Assets法规中的市场）是一项新的欧洲法规，旨在更严格地调节包括稳定币在内的加密货币的使用。云母的主要目的是确保欧洲金融体系的稳定性，同时为投资者和机构提供更大的保护。特别是，云母对稳定发行人建立了严格的要求，包括透明度和资本储备要求。该法规导致欧洲加密货币市场发生了重大变化，迫使某些平台删除或限制了不合规的稳定剂的使用。

The operational changes of Binance and Kraken

Binance和Kraken的操作变化

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.

随着云母的引入，binance暂停了USDT在欧洲用户的现货市场上的使用，尽管仍然允许他们持有令牌并将其用于永久期货合约。

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选择了另一种解决方案，允许欧洲用户仅出售他们已经持有的USDT，但不允许新购买或代币的交换。这些变化对于与新的云母法规保持一致，这对不合规的稳定剂的治疗施加了限制。

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.

这些变化会影响欧洲的各种用户，他们现在必须寻求使用稳定的替代方案。 USDT并不是唯一从欧洲的交换平台中删除的稳定者。由于云母调节，其他稳定菌素（例如FDUSD和DAI）发生了类似的变化。 Tether尽管是市场的领导者，但已经看到其立场受到法规的挑战，但撤离并未仅影响他的Stablecoin，这表明对美元挂钩的加密货币产生了更大的影响。

The USDT in the global market: capitalisation and trading volumes

全球市场上的USDT：资本化和交易量

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.

尽管USDT从欧洲平台上删除了，但令牌仍然是全球主要的稳定稳定性。它的市值目前为1,440亿美元，这一数字使其领先于直接竞争对手。此外，USDT仍然是交易最多的Stablecoin，每日量远远超过其他稳定的稳定量。

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法规的背景下，注意力也转移到美国。 “稳定法案”是一项规范Stablecoins的法案，也可能会影响Tether的未来在欧洲以外的地位。该法案要求Stablecoin发行人以银行机构的身份运营，要求他们拥有正式的执照。

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.

尽管系绳可能面临的监管困难，但美国农业部仍在全球市场中保持强大的地位，尽管增加的监管干预措施可能会改变竞争格局。