The entry into force of the European MiCA regulation on December 30 has had an impact on the market capitalization of the leading stablecoin USDT.
The new MiCA rules impose strict requirements on stablecoin issuers, including mandatory licensing, as well as reserve and liquidity requirements.
Coinbase Europe has delisted USDT and five other stablecoins.
Uldis Teraudkalns, Chief Revenue Officer at Paybis, believes that MiCA will “transform the EU crypto landscape, which will have far-reaching consequences.” In his opinion, the need to comply with the new requirements will lead to a number of companies, regardless of their size, leaving the European market.
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