Tether Withdraws From Europe Amid MiCA Regulatory Pressure

Tether has announced the withdrawal of USDT from its European operations, a move driven by MiCA regulatory requirements. CEO Paolo Ardoino criticized these demands at the Token2049 Summit, highlighting their impact on global liquidity and potentially hindering financial freedom. The decision affects exchanges that listed USDT in Europe, forcing them to adapt and seek alternative stablecoins compliant with MiCA regulations. This shift impacts European market dynamics, with USDC emerging as a viable option due to its regulatory compliance.