Tether’s refusal to comply with the EU’s new MiCA regulation, aimed at stabilizing crypto-assets, is causing significant disruption in the European market. This resistance has triggered liquidity shifts and delisting of USDT on various exchanges, leading to a restructuring of stablecoin trading dynamics across these platforms. 400 million users worldwide depend on Tether for transactions, with CEO Paolo Ardoino arguing that MiCA’s strict requirements would harm both his company and European banks. Ardoino argues that the regulations threaten financial freedom. The impact extends beyond the immediate market as this challenge to stablecoin regulation has implications for future global regulatory interactions.