欧盟数字资产法规生效，Tether (USDT) 市值下跌 1.2%

随着欧盟数字资产法规于 12 月 30 日全面生效，Tether 的美元稳定币 (USDT) 本周市值下跌约 1.2%。

Tether’s U.S. dollar stablecoin witnessed its biggest downturn this week as European Union digital asset regulations took full effect on Dec. 30, causing a slight decrease in USDT’s market cap.

随着欧盟数字资产法规于 12 月 30 日全面生效，Tether 美元稳定币本周出现最大跌幅，导致 USDT 市值小幅下跌。

On-chain data showed that USDT lost around 1.2% of its market cap, which fell to $137 billion from December’s peak of $140 billion. The token’s market cap surged throughout 2024 despite experiencing a downturn in December.

链上数据显示，USDT 市值下跌约 1.2%，从 12 月峰值 1400 亿美元跌至 1370 亿美元。尽管 12 月经历了低迷，但该代币的市值在 2024 年全年仍大幅上涨。

Concerns arose that USDT’s operator might exit the European Union now that new laws have been enacted. However, social media sentiment was countered by industry leaders and observers who pointed to data affirming USDT’s resilience outside the EU.

由于新法律的颁布，人们担心 USDT 的运营商可能会退出欧盟。然而，社交媒体的情绪遭到了行业领袖和观察人士的反驳，他们指出数据证实了 USDT 在欧盟以外地区的弹性。

Nothing burger

没什么汉堡

Experts and analysts dismissed rumors that the EU’s Markets in Crypto-Assets Regulation would disrupt USDT’s business. Karen Tang, Orderly Network’s head of APAC partnerships, and social media analyst Axel Bitblaze, pointed to data showing that Asian and U.S. markets maintain USDT’s dominance.

专家和分析师驳斥了有关欧盟加密资产市场监管将扰乱 USDT 业务的传言。 Orderly Network 亚太区合作伙伴主管 Karen Tang 和社交媒体分析师 Axel Bitblaze 指出，数据显示亚洲和美国市场保持了 USDT 的主导地位。

About 80% of USDT’s trading volume occurs in Asia, according to Bitblaze. Tang argued that MiCA regulations are more likely to hinder the EU itself, slowing digital asset growth due to “convoluted overregulation.”

据 Bitblaze 称，USDT 约 80% 的交易量发生在亚洲。唐认为，MiCA 法规更有可能阻碍欧盟本身，由于“复杂的过度监管”而减缓数字资产的增长。

4/But Axel, what about USDT trading volume and the depeg?USDT is the largest stablecoin, with a market cap of $138.5B and a daily trading volume of $44BAs of today, 80% of USDT's trading volume comes from Asia, so the EU delisting won't have any severe impact. pic.twitter.com/NjxB2iVLhe

4/但是Axel，USDT交易量和脱钩怎么样？USDT是最大的稳定币，市值$138.5B，今天日交易量$44BA，USDT交易量的80%来自亚洲，所以欧盟退市不会产生任何严重影响。 pic.twitter.com/NjxB2iVLhe

Tether plots MiCA compliance

Tether 绘制 MiCA 合规性图

Speculation about USDT’s future in the EU intensified in late 2024 after Coinbase and several EU-based exchanges delisted USDT, citing MiCA compliance concerns. While stablecoin rules took effect in July, the full MiCA framework came into force at the end of the year.

2024 年底，Coinbase 和多家欧盟交易所以 MiCA 合规问题为由将 USDT 摘牌后，有关 USDT 在欧盟未来的猜测加剧。虽然稳定币规则于 7 月生效，但完整的 MiCA 框架于年底生效。

MiCA requires stablecoin operators to hold certain licenses for e-money tokens and trading asset-referenced tokens, like USDT. So far, Circle (USDC) is the first and only major stablecoin issuer to obtain a MiCA license.

MiCA 要求稳定币运营商持有电子货币代币和交易资产参考代币（如 USDT）的某些许可证。迄今为止，Circle（USDC）是第一个也是唯一一个获得 MiCA 牌照的主要稳定币发行人。

Tether invested in EU-based companies such as StablR and Quantoz to prepare for regulatory inclusion. CEO Paolo Ardoino has reiterated that the company has no intention of abandoning the EU. While USDT cannot currently be traded on MiCA-compliant exchanges, traders can still store the stablecoin in non-custodial wallets as an interim solution.

Tether 投资了 StablR 和 Quantoz 等欧盟公司，为纳入监管做好准备。首席执行官保罗·阿多伊诺 (Paolo Ardoino) 重申，该公司无意放弃欧盟。虽然 USDT 目前无法在符合 MiCA 的交易所进行交易，但交易者仍然可以将稳定币存储在非托管钱包中作为临时解决方案。