#Crypto2025Trends Tether’s flagship stablecoin, USDT, is under increased scrutiny in the European Union as the region’s landmark Markets in Crypto-Assets (MiCA) regulation nears full implementation on December 30, 2024.
With MiCA introducing stringent compliance requirements for stablecoin issuers, questions surrounding USDT’s adherence to these standards have fueled speculation about its future in the EU.
Coinbase’s Proactive Move: Delisting USDT
Earlier this month, Coinbase, a leading U.S.-based exchange, took the significant step of delisting USDT for EU customers due to compliance concerns related to MiCA.
The move has sparked widespread debate, with some applauding Coinbase’s proactive stance while others argue that Tether’s status should be determined by formal rulings from EU regulators.
While Coinbase’s delisting has intensified scrutiny, no EU authority has officially declared USDT non-compliant. MiCA’s regulations require stablecoin issuers to obtain e-money licenses, hold reserves in recognized banks, and provide detailed disclosures. Yet, the European Securities and Markets Authority (ESMA) has not issued any definitive statements regarding USDT’s compliance.