A recent Cointelegraph article highlights the growing concerns about Tether’s USDT compliance as the EU’s MiCA regulation came into full enforcement on the 30th of December 2024. While some exchanges, such as Coinbase, have proactively delisted USDT to mitigate risks, others, including Binance and Crypto.com, continue to trade the stablecoin.
Juan Ignacio Ibañez, Chief of Staff at Exponential Science and a member of the Technical Committee of the MiCA Crypto Alliance, commented:
‘No regulators have explicitly stated that USDT isn’t compliant, but this does not mean that it is.’
Ibañez noted that Coinbase’s decision reflects a precautionary approach, while others may adopt a ‘wait-and-see’ strategy, which he cautioned could carry significant regulatory risks.
The full article delves into the broader implications for stablecoins under MiCA.
